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Chris Wysocki
Caldwell, NJ
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Bank of New York Mellon Corp. on Thursday took the extraordinary step of telling large clients it will charge them to hold cash.
The unusual move means some U.S. depositors will have to pay to keep big chunks of money in a bank, marking a stark new phase of the long-running global financial crisis.
But don't worry America, Barack Obama is focused on creating jobs. For bus drivers. In Nebraska.
Well, there is one job Obama is really focused on saving. His own.
And I hear that printing food stamps is quite the growth industry these days too.
Were Mr. Obama to be serious about improving the economy, he'd pay heed to this advice from Victor Davis Hanson:
If the government were an individual household, the only way out would be to cut spending and find new sources of wealth. Given worldwide demand for food and fuel, and given recent quite astounding new finds of natural gas and oil in the Dakotas, the eastern seaboard, offshore, the American west, Alaska, and Canada, it seems that we should be hell-bent on recovering these high-value fuels through new drilling, refineries, and pipelines, including ways to power our heavy trucks and equipment on natural gas. We should be planting acre to acre and end nonsensical biofuel subsidies and artificial limitations on irrigation deliveries to California's West Side and elsewhere in the West. We need a national manufacturing policy that prunes regulations and encourages investment here in the U.S., ceases talk of new taxes, repeals the trillion-dollar take-over of the health-care industry, and stops hectoring Boeing about opening a new facility or trying to shut down energy generation plants. Unemployment, food stamps, gargantuan debt, absorption of private companies, solar and wind subsidies, new environmental, labor, and financial regulations atop an existing labyrinth of red tape — all that has not led to new job creation or economic growth.
But to do any of those things would first require President Urkel to have a clue.
The banks don't want our money. The. Banks. Don't. Want. Our. Money.
Yeah, the country is in the very best of hands.
Posted at 11:55 by Chris Wysocki
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