Boo-Fucking-Hoo. . .

"What??" Cry the banks. "There are actual strings attached to the taxpayers' 'free money' to us? You mean to say we can't do as we wish with this money??"

O, the betrayal -- o, the chagrin felt by the banks!

They are stunned! Stunned, I tell you!

Some bankers say the conditions have become so onerous that they want to return the bailout money. The list includes small banks like the TCF Financial Corporation of Wayzata, Minn., and Iberia Bank of Lafayette, La., as well as giants like Goldman Sachs and Wells Fargo.

If you were a responsible parent, what tidbit of advice did you lay at the feet of your children whilst they existed within your domicile? Did it go something like this: "As long as you live here and I'm paying the freight, you'll do what I say when I say it. You want to be independent, there you go, there's the door. And good luck to you. But at least you'll be doing what you want, when you want it."

Any reason to think that fundamental precept shouldn't be equally applied to all loaners and borrowers, any of us who wish fiscal assistance? Moreover, I should care to point out the obvious insofar as that precept was the very foundation -- at least in theory -- of every bank that ever considered loaning money to me. And you as well.

One of the biggest concerns of the banks is that the program lets Congress and the administration pile on new conditions at any time.

What? Social Engineering from the Demorats? Imagine that (sound of hand slapping forehead).

And you mean that Social Engineering just might have deleterious consequences?

But a growing chorus of industry experts are warning that asking weak banks to carry out the government’s economic and social policies could increase the drain on the public purse. These experts say that the financial assistance, while helpful in the short run, could force weak banks to engage in lending practices that will lose even more money, and that the government inevitably will become more heavily involved in dictating how banks do business.

But here's the kicker you need to realize: if the banks continue to take handouts with these and future strings attached, if there is further payment to be extracted, who will make these further payments? Who will make up for the banks' losses?

You and me.

And isn't that forcing us to go full circle once again -- with governmental interference mandating poor fiscal policies?

Have we learned anything at all?

So I say: refuse the money, banks and institutions. Some will fail, some will succeed. But you'll still be the Master of your Soul, the Captain of your Fate.

BZ