Bank Failures

Look, I'm just at the Joe Six-Pack level in understanding what's happening to the banks right now. Fannie Mae and Freddy Mac are in trouble, and Indymac has failed. People come on Fox News, say this is just the tip of the iceberg, and my Busch stops tasting good. But the Joe Six-Pack level may be the most realistic and honest level in our hyped-up society. I remember hearing the "liberals" (they are liberal about only two things: sexual practices and using coercion on you) were on TV pontificating and sniffing about how banks could not just come into a "community" (whatever that is) and just make a "profit." No, banks had to show "social responsibility"by giving loans to minorities (read "unqualified borrowers"). My first thought then was "What's wrong with making a profit?" If the individual - you or I, my friend - didn't make a daily profit from working, what would be the point in going to work? Only a fool would work if it cost more to work than it paid. Profit is not only good; it is essential. My second thought was. "Where's the "social responsibility" to the bank customers in giving loans to unqualified borrowers, no matter what the "liberals" call them. peternickerson12@yahoo.com