Thursday, December 22, 2011
Occupy Your Own House
Yesterday afternoon as I was driving to make a deposit in my credit union I noticed some people walking across the intersection with signs. "Are those Occupy Wall Street protesters?" I asked my wife. Sure enough, it was. So, as I drove by I rolled down my window and yelled at them to get out of my town. I wanted to make a u-turn and yell at them again but my bank closes at 5pm so I didn't have time. Maybe I'll drive by today if they're still there.
I just don't get their point. Are they protesting banks for making bad loans? Have they no sense of history? You see, I agree that the banks made bad loans, just like they did back in the late 1920's. But, back then the government didn't think they should rescue the banks. So, the banks were left with all the bad loans they had written and the foreclosed homes they had financed. My grandparents lost their home at that time. What did the banks do? They did what they had to do and that was pay the price for making stupid loans. They couldn't sit on the homes because they only people who would buy a home were those who just lost their home. Grandma stood with me one day on her front porch and explained how everyone on the street lost their home but the banks sold them back a home across the street. In the end the banks had to deal with their own mess and provide loans that made sense at affordable rates and prices.
If these "protesters" should be protesting anything they should be protesting the idiot politicians that gave money to the banks that allowed the banks to sit on the loans hoping that home prices would go up so they wouldn't take it in the shorts. Stupid is as stupid does. Anyone who thinks giving money to the banks helped individual homeowners should know by now the foolishness of that belief. The only problem is that the politicians had, via Fanny Mae and Freddy Mac, forced the banks to make bad loans. Again, government intervention turns out to be disastrous for American citizens.
So, unless your going to hold the politicians accountable, shut up and go home.