During the farm crisis of the 1980s the over-line credits we had placed with the city correspondent banks were called. A community bank used to rely on participating loans with large metro banks. For example, if my bank had a regulatory loan limit of a million dollars and I made a two million dollar loan, I would “sell” the over-line to a large bank. These large banks suddenly suspended and called all rural credits. This is probably similar to what is happening to borrowers who use super-large banks in today’s panic environment. There was nothing wrong with these loans but every small bank suffered from this irrational wrath.
Presented without comment…
And the Nay Votes!
The house passed HR 1424 (on the second attempt). Nice job guys. I wanted to point out the nays. BOOOOOO!
Aderholt
Akin
Altmire
Bachmann
Barrow
Bartlett (MD)
Barton (TX)
Becerra
Bilbray
Bilirakis
Bishop (UT)
Blackburn
Blumenauer
Boyda (KS)
Broun (GA)
Brown-Waite, Ginny
Burgess
Burton (IN)
Butterfield
You all know what I think of Harry Reid
Cause:
The Senator from Nevada, last night: “We don’t have a lot of leeway on time. One of the individuals in the caucus today talked about a major insurance company — a major insurance company — one with a name that everyone knows that’s on the verge of going bankrupt. That’s what this is all about.”
Effect?:
Met Life, Pru, CDS blows out, and the S&P gets wacked.
May we suggest, since Congress is in a prevention kind of mood:
AMENDMENT NO. _______
Calendar No. _________
Purpose: To silence Harry Reid during times of crisis, war, when Congress is in session, and such other times as may be deemed necessary and expedient.
IN THE SENATE OF THE UNITED STATES–110th Cong., 2d Sess.
H. R. 3997
Who Voted No…
Allard (R)
Barasso (R)
Brownback (R)
Bunning (R)
Cantwell (D)
Cochran (R)
Crapo (R)
DeMint (R)
Dole (R)
Dorgan (D)
Enzi (R)
Feingold (D)
Inhofe (R)
Johnson (D)
Landrieu (D)
Nelson (FL) (D)
Roberts (R)
Sanders (I)
Sessions (R)
Shelby (R)
Stabenow (D)
Tester (D)
Vitter (R)
Wicker (R)
Wyden (D)


