Obama's National Bank

Obama’s National Bank

I just learned today, in Bob Herbert’s column, in the Times, that Obama promised during the campaign to create "a national infrastructure bank." THIS could be the successor to the 2nd National Bank (ended by Andrew Jackson, in 1836) that I thought we needed, and mentioned in a previous posting, but only if the infrastructure bank was also allowed to make (a few hundred billion dollars of) loans to businesses and individuals, with branches of the bank set up throughout the country. Not likely, I agree. Instead, what we have is the Federal Reserve making loans to banks now approaching one trillion dollars, with effects no one knows how to evaluate. I am considering incorporating myself as a bank, so I can be in on it all.