The People's Cube - Political Satire

Comrades, this evil bank full of grasping capitalists and Limbaugh-clones has failed to run its business stupidly act in accordance with the common good! The People must denounce them thoroughly, take their bonuses (if they have any) and send them and their entire bank to the gulag. Comrades, let us all follow Commissar Barney Frank to the picket lines!

OOOH, I am so OUTRAGED by their discriminatory practices, I could puke.... BLAAAAAGH!!!! Ah, I feel so self-righteously better now.

FDIC Criticizes Massachusetts Bank With No Bad Loans for Being Too Cautious

A Massachusetts bank that has defied the odds and remained free of bad loans amid the economic crisis is now being criticized by the Federal Deposit Insurance Corp. for the cautious business practices that caused its rare success.

The secret behind East Bridgewater Savings Bank's accomplishments is the careful approach of 62-year-old chief executive Joseph Petrucelli.

"We're paranoid about credit quality," he told the Boston Business Journal.

That paranoia has allowed East Bridgewater Savings Bank to stand out among a flurry a failing banks, with no delinquent loans or foreclosures on its books, the Journal reported. East Bridgewater Savings didn't even need to set aside in money in 2008 for anticipated loan losses.

But rather than reward Petrucelli's tactics, the FDIC recently criticized his bank for not lending enough, slapping it with a "needs to improve" rating under the Community Reinvestment Act, the Journal reported.

The problem, according to FDIC data, was that from late 2003 through mid-2008, East Bridgewater Savings made an average of 28 cents in loans for every dollar in deposit — a sharp contrast to the 90 percent average loan-to-deposit ratio among similar banks, the paper reported.

"There are no apparent financial or legal impediments that would limit the bank's ability to help meet the credit needs of its assessment area," the FDIC wrote in the CRA evaluation.
The agency also faulted the bank, which does not have a Web site, for not promoting its loan products enough, the Journal reported.

http://www.foxnews.com/story/0,2933,509584,00.html

How is it possible to prosper by not instituting polices for the common good?
At least this is only one bank. Thank Marx.
Can you imagine how bad off our country would be had the CRA never been dreamed up?
Praise to Clinton for giving the CRA the real teeth it needed for Faith Hope and Change.

WHAT?!!! Comrades, this is an OUTRAGE! Failing to sacrifice their business for the Common Good is unforgivable Thought Crime! These Thought Criminals must be Purged yesterday, if not sooner.

We must then give them a show trial, where these enemies of the state will tearfully confess to the numerous crimes they have committed against Comrade Obama, and will beg the court to sentence them to the most severe penalties possible. This is after they've been routinely beaten, tortured and deprived of sleep for weeks at a time gently interrogated by the KGB, of course.

How dare employ that racist, chauvinistic concept know as logic! Sayyid Qubt would be rolling in his grave.

<br>Clickage!

Comades, we must address the question of "What is the role of a bank in a free-market captialist society such as ours? The answer is that a bank's job is to do what the Politburo tells it to do until it drops dead and the people feast on its carcass like vultures.

{microphone off}
Any business that has the government as a "partner" is in the same position as a dog that has a bucketfull of ticks as partners.

My leg is tingling! (Oh wait, that was a negligent discharge from my People's Pocket Pistol. Which means the warm sticky fluid is not beet vodka. Excuse me while I go get in line for triage at the collective doctor's office.)

Opiate of the People wrote:
{microphone off}
Any business that has the government as a "partner" is in the same position as a dog that has a bucketfull of ticks as partners.

Flea and Tick Collars Seen as Savior To American Business.