Although the bailout was supposed to shore up capital for troubled banks and encourage lending, the government is urging stronger banks to take the money. “They’ve been calling us; they want us to participate. They’ve been asking banks to participate,” said Dan Rollins, president of Houston-based Prosperity Bank. The deadline for applying is Nov. 14, and Rollins said Prosperity hasn’t decided if it will. “The regulators are pushing us so dad-gum hard, we’re scratching our head saying, ‘If we don’t take it, does that put us on their bad list?’ ” Rollins said. Downey Bridgwater, chief executive of Houston-based Sterling Bank, said banks that don’t apply could find themselves at a competitive disadvantage. “If you don’t take it, and your competitors have, they’re in a much stronger position to move forward,” he said.
The flipside is that these banks are also forced to sign on to the regulation over their management by the banking czar, who can now act without oversight, Henry Paulson.
Now, as we approach what a real estate developer would call "phase two" of this socialist development, the auto intustry is told that to get the big Federal buy... excuse me, bail-out, they'll bet subject to what Senator Richard Shelby of Alabama describes as a "Car Czar," appointed to dictate what automobiles they should make available to the American Consumer. The same consumer, who as was detatiled on my radio show (1260am/94.1fm WCHV Charlottesvile, Virginia, 5a-9a, M-F) by local car dealer Carter Myer (Colonial Auto Centers), that hasn't STOPPED buying cars. As a matter of fact, they bought an estimated 9-10 million GM's in 2007. I thought it would be appropriate to remind people what the definition of "czar" is... (never mind the historical connection to the fall of Russia and the rise of Communism...) This is from "answers-dot-com":
Answers-dot-com goes on to explain that the first such autocrat
1. (also tsar or tzar pr: zär, tsär) A male monarch or emperor, especially one
of the emperors who ruled Russia until the revolution of 1917.
2. A person having great power; an autocrat.
was named Ivan and by the end of his 32-year "czar-ship," was known as "Ivan the
Terrible." I'm just sayin'...
Now, would I be considered a bad guy to point out that the definition of a "czar" can also be applied to the style of govening that has landed the Governor of Illinois, Rod Blagojevich, in jail? And we're going to appoint MORE of these?
Give a hand UP, not a hand OUT.... Unless the Federal Government wants to wind up running all of these businesses. Let's go ask Senator Maxine Waters...