Power Review

Over the last few days I have really been studying and reading about this new stimulus plan and the banking system in general. The economy is going downhill at a rapid pace and we are really at a point where we need to get to the underlying issues. I think we are seeing right now how much power these banks have. We can have conversations about government spending and earmarks, and blah blah blah, but the root of the problem is banks. Even as I watch meet the press today Steve Forbes made the point to say that until we fix the banking issue, things will continue to go sour.

Banks are in a state of emergency right now. Some banks are folding, some are being seized and others are restructuring. What is directly affecting consumers though is the lack of lending going on in all banks. It is as small as not lending to ordinary joes such as myself to not lending to major corporations. When you have this combined with people forced to now live within their means you have a major crisis at hand. By me working in the banking field I see first hand that people are freaking out right now. Some people are operating with working capital alone and not credit. Others are just trying to stretch one credit card out as long as it can go.

If you look at all of these situations it goes to show how much power these banks right now. It really is scary to hear major CEO's and Senate Finance Committee members state that we need to fix the banking industry right now. It makes you wonder if there is an ulterior motive.

Today is super bowl sunday and I am not inspired. Someone please tell me about a super bowl party.