Are We Evil?

So of course "the banks" seems to be a hot button topic right now, and we banks seem to be catching a lot of heat over stuff that doesn't make any sense to me. It really doesn't make sense to anyone at work, if you look at it from a logical point of view.

TARP - Many of us didn't want it, and almost every major US bank has repaid the funds with interest as required. We repaid our loans... Loans that many of us DID NOT WANT but were told that we were taking. And now because we haven't gone bankrupt we are somehow vilified as "evil." Nothing but a bunch of Fat Cats on Wall Street... Even though most of us are on Main Street, not Wall Street.

So we are profitable now? YEAH, and that's a good thing. Most of the banks in this country help all Americans lead an easier life on a daily basis. We provide security (not only in deposits, but in transaction security and fraud prevention), access to money that makes life simpler and easier (hell, I transfer balances on iPhone whenever I need to), and funding to those that have worked hard and earned good credit (home, student and credit loans). People abuse those things. People take on debt that they then decide that they can not repay. People spend irresponsibly...

If someone gets into a car accident, do we blame the auto maker for their bad driving?

Hell no, most people realize that is ludicrous...

But yet somehow when people make bad fiscal choices that's their bank's fault? I guess I know how cigarette makers feel. Perhaps the Treasury should add a printed warning to currency:

"WARNING: Excessive Spending can lead to debt, bad credit, and even bankruptcy..."

How stupid does that sound?

At the end of the day I am just sick and tired of ill informed and downright ignorant people blaming the banks for everything that has gone wrong in the past two years. Perhaps people need to open their eyes to the truth.

-The government kept interest rates low despite rampant growth and an unexplainable rise in housing prices.

-The government pushed lax lending standards and stood behind Fannie and Freddie as they back mortgages that were foolish contracts.

Banks made mistakes, but the government was right there making bigger mistakes and pushing an agenda that was unsustainable. They bragged about the large numbers of Americans buying homes, and now berate the banks for giving those Americans loans using lending standards that the government itself was backing.

At least the banks cut spending, revamped policies, and are returning to profitability. Is the government good at profitability? Hell, is the government good at running anything with even decent customer service standards? Losing money or not, has anyone every felt satisfied with the PEOPLE who work in government offices and the service they received while there?