• 23 Jul 2009 at 10:19 AM

The Solution To The Lending Problem

By Greg Michaels

While US banks come increasingly under fire for scaling back traditional lending due to minor details like near 10% unemployment, at least one emerging market country has made sure that its citizens will have access to loans regardless of economic conditions. Russian state-owned bank Sberbank was ordered by Vladimir Putin to keep on lending despite a rise in bad loans and continued economic contraction. Vlady also made sure the bank didn’t just close unprofitable branches to focus on money-making ventures.

A significant part of the [branch] network is not profitable but you cannot abandon it,” he said. “This is your payment for the state support.”

Make bad loans and love it- the very words the now state-controlled banks in the US have lived by for years.

Comments (26)

  1. 1
    Posted by guest | July 23, 2009 at 10:21 AM

    Bad way to start off the day. No pictures and I haven’t had my second cup of coffee and Red Bull yet.
    Damnit, there are some great Putin pictures out there, Greg. Use them. Spice things up a bit.

  2. 2
    Posted by guest | July 23, 2009 at 10:24 AM

    @ 1, stfu. Greg’s final sentence was excellent.

  3. 3
    Posted by guest | July 23, 2009 at 10:28 AM

    Dennis Kneale??
    http://thisainthell.us/blog/wp-content/uploads/2009/03/beaker-300×296.jpg

  4. 4
    Posted by guest | July 23, 2009 at 10:34 AM

    @2, OK Greg’s Mom. I thought you “made him a man” last night. Let him fight his own battles, you old ho-bag.
    -TGFHouston
    P.S. I second @1′s request. Please use pictures, Gregory. It helps. A lot. Especially for you. Seriously.

  5. 5
    Posted by guest | July 23, 2009 at 10:34 AM

    How is this any different than the U.S. government subsidizing loans to risky loan profiles via Fannie & Freddie?

  6. 6
    Posted by guest | July 23, 2009 at 10:34 AM

    @2, if “Make bad loans and love it- the very words the now state-controlled banks in the US have lived by for years.” is an excellent sentence, then you probably thought Monica Lewinsky was a knock out as well. @1 is spot on. This could not have been more bland.

  7. 7
    Posted by guest | July 23, 2009 at 10:36 AM

    I’m a Greg Michaels. What is a John Carney?

  8. 8
    Posted by guest | July 23, 2009 at 10:40 AM

    Greg, you’re the reason I abuse drugs.
    -Your absentee father

  9. 9
    Posted by guest | July 23, 2009 at 10:42 AM

    Greggums! My sweetest!
    I know you liked it last night but why did you come to work so late? Your first article comes in after 10:30! I even left you a full bowl of Coco Puffs and left the milk on the table so that you are not late.
    What do you want for dinner?
    Love ya,
    Mom
    DB posters: we need to come up with a good name for Greg’s mom: Maxine, Gertrude or something?

  10. 10
    Posted by guest | July 23, 2009 at 10:45 AM

    @9 – Pamela

  11. 11
    Posted by guest | July 23, 2009 at 10:45 AM

    Greg, I must paint you…
    …but only after I beat you with a sock full of grape jelly.

  12. 12
    Posted by guest | July 23, 2009 at 10:45 AM

    Sally Upchuck on CNBC this AM — tell the chick to lie down, she’s dead.

  13. 13
    Posted by guest | July 23, 2009 at 10:49 AM

    @9 how about in blanus fashion we go with Fanny

  14. 14
    Posted by guest | July 23, 2009 at 10:52 AM

    @9 – Pulling inspiration from “Goldfinger” how about Pussy Galore.

  15. 15
    Posted by guest | July 23, 2009 at 10:52 AM

    @9, something dominant, like Ursula?

  16. 16
    Posted by guest | July 23, 2009 at 11:05 AM

    @9, how about “Suzie Successful Suicide” and we end your no longer funny posts umm last week?
    Greg, sorry for the loss of your mother. Thoughts and prayers to the family.

  17. 17
    Posted by guest | July 23, 2009 at 11:05 AM

    Bess/Greg, another good story for you
    http://www.freep.com/article/20090722/NEWS05/90722108/Ex-Wing-Fedorov–Adviser-swiped–43M

  18. 18
    Posted by guest | July 23, 2009 at 11:08 AM

    Greg – Could I trouble you for your Mom’s number?

  19. 19
    Posted by guest | July 23, 2009 at 11:11 AM

    Greg’s mom’s name should be …. Griselda.

  20. 20
    Posted by guest | July 23, 2009 at 11:16 AM

    Blanche Michaels used to work at a truck stop diner outside of Carbondale, PA. That’s where she met Greg’s biological father, Myron “Muzzy” Tate. When he found out she was pregnant, he split. Alone and afraid, Blanche moved to Queens to live with her Aunt Olga. (She and her mom haven’t spoken she left home at 17.)

  21. 21
    Posted by IBNR | July 23, 2009 at 11:22 AM

    Romper room here today

  22. 22
    Posted by guest | July 23, 2009 at 11:26 AM

    you know, i used to not really get why Greg takes so much heat, but this post pretty much seals it. seriously, dude. why bother?

  23. 23
    Posted by guest | July 23, 2009 at 11:30 AM

    hey greg watch out, looks like you may have some competition for this shittiest blogger out there, allow me to introduce caleb newquist:
    http://goingconcern.com/2009/07/hr-block-still-loves-mcgladrey.php#comments
    http://goingconcern.com/2009/07/guess-what-my-intern-did.php#comments
    at least he uses pictures…

  24. 24
    Posted by guest | July 23, 2009 at 11:41 AM

    Greg,
    Never, ever call me “Vlady” again or I send large Russian man to DB office.
    –Vladimir (the Hammer) Putin

  25. 25
    Posted by guest | July 23, 2009 at 4:47 PM

    @7 FTW. give it up to the long time readers,
    PS- Michaels, kill yourself.

  26. 26
    Posted by guest | July 24, 2009 at 2:34 AM

    Greg’s mom’s name is obviously…
    Sheniqua

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