Who’s Going to Protect Us from the Government?

I need to know if I have my facts straight, if I’m reading all this correctly. I believe that there is legislation on the Congressional table, which, if both are passed, would create a government bank that would start out at $10 billion in funds, and would raise red flags on private banks that held the same amount or more, possibly forcing them to downsize.

The government bank would benefit the Clean Energy Deployment Administration. According to this article, it could be funded with up to $10 billion from the U.S. Treasury. Those funds would be used for “accelerating deployment of smart grid technologies, renewable generation, carbon abatement programs and nuclear power,” the article continues.

The other piece of legislation, an amendment authored by Rep. Paul E. Kanjorski (D-Pa.), pretty much caps public banks at – that’s right – $10 billion. I think. This is the part I need to clarify. Take a look at the amendment and let me know if I’m right. I believe that if this amendment is passed, our Big Brother will take a look at banks whose revenue hits this amount.

What amuses me personally is that if all this passes, the new government bank will be able to grow “too big to fail” while private banks will be mandated to remain “small enough to fail.” Thanks, feds. Appreciate it.