By any measure, CapitalSource outperformed both our direct competitors and the financial services industry in general, particularly in the context of the near collapse of the financial services industry where 19 of the 20 largest financial institutions in the country either failed or were bailed out by the government.
We really need to move to a bit of a post-partisan world where we actually start solving problems and stop kind of living in a country where the political leaders act like half the country is entirely wrong about everything they believe and increasingly try to pit American against American.
An institution that borrows on a non-prioritized basis would never contemplate borrowing on a prioritized basis. Doing so would undermine its standing in the bond market and suggest that it is not worthy of its strong credit rating. This type of self-imposed downgrade would materially affect its financial prospects.
Imagine a country where the vast majority of seniors live in poverty, a country where for many there are no golden years, but a time of struggle and dependence. That was the United States before the creation of Social Security, which has proven to be one of the most effective and important government programs in our history.