I want to start by thanking the US government for making a very wise decision to pass the recent bailout bill. We believe that it is a very bold move that acknowledges how important business is to the American economy. Shortbus Ventures banking subsidiaries will no doubt be beneficiaries of this bold step to rescue business in danger.
Shortbus Banking has been a proud institute for decades. We have always believed that reputation trumps what "the numbers" may say. When lending regulations opened up and allowed us to truly demonstrate our commitment to help the little guy, we were happy to help. A lot of people came to us down on their luck, with histories that didn't look great, but we knew they WANTED to pay us back.
Of course, shortbus didn't really think there would be any risk. Just in case, however, we moved these loans to companies specifically designed to service these loans. Even better, since these loans had value, we could use them as collateral for other loans.
We realize now this may not have been the best "business decision" but it made us feel good to help out the little guy and make some obscene profits in the mean time. Sure we risked the entire company lending to people who really couldn't pay us back, but we made boatloads of money when times were good.
Now that time are worse, we're very happy see the government make the right decision to help good companies like ours. We were motivated by two important things, helping consumers get into home's they shouldn't and our own profits. For a while we could do both. Now at least we'll get to preserve our profits.
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