Friday, January 02, 2009

Happy New Year (dogblog edition)

We can only hope that 2009 turns out better than 2008--after all (if you have any funds left), there may be reason to party more, during Obama's inauguration, with the hope that he can inspire cooperation among all sectors of America.

Who knows, perhaps the public's confidence in the President-Elect may lead to the beginning of the easing of the current economic meltdown. Currently, however, the behavior of financial institutions doesn't give cause for optimism. A large local bank [which has had problems with subprime lending] yanked the credit card line of a family friend who has been dutifully paying down the balance, from a large one to a much more manageable size! If banks are denying credit to creditworthy customers, how is the economic crisis supposed to stop? Wasn't the bailout of the financial institutions based on the assumption that they would responsibly loosen credit restrictions, where appropriate?

How is such crazy behavior unlike the following?

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