Originally Posted By: jsharp
I understand. Back to the topic, I think this is a bad idea overall. We're rapidly moving from loaning money to running these companies.
I say give them 90 days warning that we're calling the loans we shouldn't have made in the first place.
No one ever seems to remember that the first loss you take on something is your smallest.
These "banks" need to have a fork stuck in them because they are done. We need to divert the money that might otherwise still get thrown down this bottomless pit into capitalizing new commercial banks that operate like your local commercial bank, issue shares, make profitable prudent loans, and repay the capital loan. The only thing worse than being forced against your will to be an owner of a business, is being forced against your will to be an owner of an unfixable at any price, business.
Let the old ones stew in their own juice, go bankrupt, work their way out of it, whatever. We need to move them off our balance sheet ASAP.
As far as cutting their compensation, this is so little oversight so late that it is laughable, but they are taking Uncle Sugar's medicine, so I don't want to hear a lot of whining from them about having his foot on their neck. It needs to be up their backside.
What bugs me is when you DON'T take his money, and he still tells you what to do with your business, property, etc. But that is a rant for another day.
I understand. Back to the topic, I think this is a bad idea overall. We're rapidly moving from loaning money to running these companies.
I say give them 90 days warning that we're calling the loans we shouldn't have made in the first place.
No one ever seems to remember that the first loss you take on something is your smallest.
These "banks" need to have a fork stuck in them because they are done. We need to divert the money that might otherwise still get thrown down this bottomless pit into capitalizing new commercial banks that operate like your local commercial bank, issue shares, make profitable prudent loans, and repay the capital loan. The only thing worse than being forced against your will to be an owner of a business, is being forced against your will to be an owner of an unfixable at any price, business.
Let the old ones stew in their own juice, go bankrupt, work their way out of it, whatever. We need to move them off our balance sheet ASAP.
As far as cutting their compensation, this is so little oversight so late that it is laughable, but they are taking Uncle Sugar's medicine, so I don't want to hear a lot of whining from them about having his foot on their neck. It needs to be up their backside.
What bugs me is when you DON'T take his money, and he still tells you what to do with your business, property, etc. But that is a rant for another day.
