A New York Times article reprinted in the Sunday Post-Dispatch was headlined: Banks aren’t using federal bailout money to make more loans. The writers hammered that point home with example after example:
Speaking at the FBR Capital Markets conference in New York in December, Walter M. Pressey, president of Boston Private Wealth Management, a healthy bank with a mostly affluent clientele, said there were no immediate plans to do much with the $154 million it received from the Treasury.
“With that capital in hand, not only do we feel comfortable that we can ride out the recession,” he said, “but we also feel that we’ll be in a position to take advantage of opportunities that present themselves once this recession is sorted out.”
Last Thanksgiving, St. Louis ACORN activists made the same point as the Times article when they gave Wachovia the Turkey of the Year Award for not using bailout money to slow the mortgage crisis. Might I just point out the obvious: If none of the banks are willing to lend, then they won’t have a recession to get through; they’ll have a depression. And the luxury cruise ships of our economy, like Wachovia and Boston Private Wealth Management, will sink along with a lot of rowboats with peeling paint.
How does it happen that one of the most active Democratic organizations in the state is in Springfield, the buckle on the Bible Belt? Springfield has Missouri State University, but it also has Trinity Evangelical Divinity School, Baptist Bible Graduate School, Central Bible College, and Evangel College. Tell you what else it has: an office building that is the Democratic headquarters in Springfield with a full time executive director. St. Louis should be so lucky.
The Greene County Democratic Party Chairman has been Craig Hosmer. But he was recently elected chairman of the state party’s central committee, so his position as county chairman is being taken over by Art Kessler, a thirty year member of the local carpenters’ union. Kessler is just one of those working stiffs stepping up for the party. Here’s hoping he can maintain the terrific organization Hosmer leaves behind. And here’s further hoping that Hosmer is just as successful as central party chair as he has been in Springfield.
Former state senator Maida Coleman (SD 5 in St. Louis City) is mailing out from her former office in Jeff City a good-bye to her constituents–a twelve page color newsletter. She hopes to run as an independent, most likely against Francis Slay, in the April 7th mayoral election.