The ED SHOW: Ed and Robert Reich are on fire tonight - anyone watching??

[polichick]

PLEASE Mr. President, LISTEN TO REICH!!!

[Cash_thatswhatiwant]

1. Someone arrest them for arson because they are settin that place on fiyaaaaaaaaaaaaah

i just wanted to say that. im not watching. lol

[polichick]

5. LOL

[Phx_Dem]

2. I'm listening, but I don't get his argument that small business

having to pay 4 percent interest on SBA loans is too much. His reasoning is that banks borrow at a lower rate. Well, no shit Sherlock. That's how you make money. I don't see retail stores selling products for the same price they pay for them? What's the difference? Why is it okay for retail stores to make a profit in order to stay in business, but not banks? We're talking about 4 percent interest!! That's a very good rate by any measure.

I love Ed Schultz, but this particular argument is nonsensical.

[polichick]

4. Unfortunately the small banks that are lending to small business...

...aren't getting bailed out, only more regulations. The point really was WHY are we bailing out the big Wall Street banks, rather than the small banks and Main Street? As they said, it would have been smarter to start some new banks.

[Phx_Dem]

7. Not true at all. Community Banks can apply for TARP, and many have.

Ed should do some research before spreading misinformation.


Independent Community Bankers Association, http://www.icba.org/files/ICBASites/PDFs/tarpfaqs.pdf

Q: Which financial institutions are eligible for the TARP Capital Purchase Program?
A: Generally, any bank, community bank, savings association, bank holding company or savings and loan holding company organized under the laws of the United States qualifies.

Q: If a financial institution cannot qualify for this program, will it be eligible to participate in other TARP programs?
A: Yes.

Q: What is the purpose of the program?
A: Federal agencies say participation in the low-cost capital program is designed to bolster financial strength and allow for prudent lending that may currently be constrained by current capital levels.

Q: What about community banks that do not issue senior preferred stock?
A: The application deadline for Subchapter C corporations was Dec. 8. Treasury is considering an application form and term sheet for Subchapter S corporation and mutual institutions at a later date and establish a reasonable deadline to apply.

Q: How do community banks apply to the CPP
A: You must consult with and submit an application to your primary federal regulator. The banking agencies have applicable information on their Web sites.

http://www.bailoutsleuth.com/ (scroll down for all the reports on Community Banks and TARP funds)

[Cass]

3. I am! Its a good one so far!

I never knew anything about Ed Shultz before but I am liking his show. Great addition to MSNBC imo.

[polichick]

6. I agree, he really is a good addition!

[vaberella]

8. I really like this guy...The Ed Show is super guy. n/t