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My favorite Martin Hutchinson (Money Morning) paragraph today

#1
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•Back off the banks:

“The financial services sector may consist of bad guys, but it is a major part of the economy. It has been harangued with legislation of more than 1,000 pages, including instructions to the U.S. Securities and Exchange Commission (SEC) and other bureaucrats to write new, undefined regulations in all sorts of areas.
Additionally, the mortgage business – one of their major profit drivers in normal times – has been subject to endless regulatory harassment and lawsuits. It’s tough to sympathize with bankers, but it’s also tough to imagine how they can grow their business and flourish under these conditions.

The combined overregulation and coddling of banks has suppressed small business lending to a level 25% below its pre-2008 plateau. Bang go more jobs.”

http://moneymorning.com/2011/08/31/seven-ways-washington-can-spur-private-sector-
growth/

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