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Wednesday, February 03, 2010 8:15 PM

Banking regulations aimed at Peoples miss the mark

President Obama made it clear in last week’s State of the Union address that he joined the rest of the nation in not liking the bank bailouts. Those bailouts of businesses declared “too big to fail” prompted skepticism, especially in light of huge bonuses being paid to top executives at those same allegedly ailing banks.

 Many of us wondered if the emphasis wasn’t too much on bailing out Wall Street rather than Main Street. Indeed, the trickle-down theory on regulating the banking industry hit home this week with the announcement of Peoples Bank’s written agreement with the Federal Reserve Bank of Kansas City. That agreement stipulates that Peoples continue to strengthen its capital reserve fund and liquidity. Strengthening makes great sense except in this case. Banks make money by lending, but by withholding funds to build up the capital reserve, the noose tightens on the bank’s ability to generate more income.

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