Monday, February 1, 2010

State of Illinois Asked to Help Save Shore Bank?

Here is my recent response to Crain's Chicago Business Article on Should the State of Illinois Help Save Shore Bank?

The state of Illinois is not in the greatest financial shape! Where are they going to get the $$$$? Print it??? Besides, how about all the other banks in Illinois? They all have good, hard working decent people in their organizations who don't deserve having to apply for a greeter's position at Sam's Club. Why support Shore Bank and not the others? Besides, the federal government doesn't need any competition from the State of Illinois in bailing out private sector companies.

C'mon, let the private sector and free market economy work out its own woes without tapping the taxpayers' wallets with wild eyed insane bailouts. Government "help" is just going to prolong this depression and make it deeper.