Loaning money to myself. My local bank and the bailout plan.
The Average Joe has got to be suspicious of the taxpayer-funded bailout when a recent article reports that Trustmark National Bank in Jackson, Mississippi is applying for $215 million of the bailout money because the bank “…simply wants to take advantage of attractively priced capital.” I can’t fault Trustmark for doing so, but come on federal government! It’s one thing for small businesses to get taxed and regulated like crazy, but now they, in effect, get to loan money at a low interest rate to themselves to pay back at a higher interest rate?!