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View Full Version : Washington, Wall Street Buzzing About Prospect of Bank Nationalization



5stringJeff
02-21-2009, 05:44 PM
I can't believe that anyone is taking the concept of bank nationalization seriously. It's a sad time in America.

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Washington, Wall Street Buzzing About Prospect of Bank Nationalization

Rumors of a plan to nationalize U.S. banks have fueled debate this week in Washington and on Wall Street over how far the Obama administration will go to rescue the financial industry, but lawmakers and economists are divided over whether such takeovers are likely or necessary.

Business consultant Chester Elton told FOX News that nationalizing the banks is safe for the banks' clients because the government can guarantee all the deposits, but isn't an option favored by most Americans, who prefer the competition of the free market.

"I think what people are looking for is a little more oversight," he said. "I don't think they're looking for the national bank intervention where now government really does control so much of your life that you don't have choices when it comes to investments and deposits. I think that's premature."

http://www.foxnews.com/politics/first100days/2009/02/21/talks-nationalizing-banks-spark-debate/

Psychoblues
02-23-2009, 06:43 AM
The private banks have certainly got us into a genuine mess, 5stringer. What is your suggestion for an improvement or better yet, how in the hell are we going to get out of this mess caused by them?!?!?!?!?!?!?!??!?!?!?!?

:beer::cheers2::beer:

Psychoblues

5stringJeff
02-23-2009, 06:17 PM
Let the bad banks go bankrupt.

Yurt
02-23-2009, 06:29 PM
Let the bad banks go bankrupt.

how unpatriotic of you, the government is the net beneath our wings, when i fail, i expect and demand the government to take your money, in the form of taxes, and give it to me so i can succeed like you.

LiberalNation
02-23-2009, 06:33 PM
I doubt real nationalization will occure, the government will give money and take ownership but wont run them.

Yurt
02-23-2009, 06:36 PM
I doubt real nationalization will occure, the government will give money and take ownership but wont run them.

o rly? the government is already telling wall street execs what they can and can't do....no more vegas conferences, jets, etc....

the government is about one thing and one thing only:

power

the ability to control our lives. what matters is how much control you are willing to concede to the government...votes count and a vote for virtually any politician now is a vote for more government control of your life.

LiberalNation
02-23-2009, 06:43 PM
placing limts isn't day to day running. They set min wage standards too but don't run companies who have to follow it either.

Yurt
02-23-2009, 06:47 PM
placing limts isn't day to day running. They set min wage standards too but don't run companies who have to follow it either.

thats true, i just see the example i gave as evidence that the government will encroach and will run things.