One Guy's Opinion on the Political Scene By: Jim Herndon
The J.P. Morgan Chase bank CEO has announced that the bank would like to give back the government stimulus money; the bank did not request the money and feels it does not need it to recover from the banking recession.
Moreover, the bank would rather avoid opening the door for government bureaucrats to enter and gain control of its business. Once the bureaucrats get their clammy hands into a company’s business, there is no returning to the freedom and independence of the market system. The funds that the bank wants to return is taxpayer money that the Obama administration so urgently needed to grab that congress had to vote on the stimulus bill without reading it. The modus operandi of the Obama pack is to characterize every issue as so grave and so urgent that the government must act immediately. In this atmosphere, they can push through anything and everything they want, particularly since the Republicans are in such a minority, they can provide little more than a few pebbles in the path of the Democrat steamroller.
