Our Government Has Never Ran a Business
by Closing of banks causing more unemployment and uninsured people is a growing concern in our damaged economy.
It appears that the Obama administration has shown us all that they could not run a lemonade stand and make a profit if they wanted to. With the closing of Taylor, Bean, & Whitaker, one of the largest mortgage companies shows me that our leaders are causing more harm than good. It has been reported that Red Flags have been present for years of troubles within the company. My question is why did the regulators of the FDIC not confront these issues early on and try to help the people of TBW before it got so bad and out of hand due to rapid growth. Instead our leaders chose to ignore known problems until they removed 30 billion dollars in mortgages and left 800 people out of work and un-insured. This is not a sound business solution. Our economy cannot take many more closures of this type.
It appears more and more that our government wants to control the financial institutions of this country. But they cannot even control their own party. The best solution to me is to get rid of the bad people, help the company do the task correctly and keep more people employed so that the IRS can tax these people for revenue. Out of work people do not pay taxes. Why is it so difficult to understand? When large companies lay off people then it cost our economy not only with another person with no cash flow but it cuts revenue generated by taxes. When our government keeps on spending like it is then it will take even longer to get our country out of the red when we cut jobs. The more talk that comes out of Washington about creating more jobs our government seems to eliminate more jobs than create them. It appears to me that there is a desire to keep America in financial ruins instead of a global leader of wealth.
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