White House considers ownership stakes in banks - New England Patriots Forums

STFarmy · 10-09-2008, 07:15 AM

White House considers ownership stakes in banks - Yahoo! News

Awesome. More good decisions by this administration's floundering. It's crises such as these that cause nations to change forever.

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WASHINGTON - The Bush administration is considering taking ownership stakes in certain U.S. banks as an option for dealing with a severe global credit crisis.

An administration official, who spoke on condition of anonymity because no decision has been made, said the $700 billion rescue package passed by Congress last week allows the Treasury Department to inject fresh capital into financial institutions and get ownership shares in return.

PatriotsReign · 10-09-2008, 07:40 AM

Quote:

Originally Posted by STFarmy

White House considers ownership stakes in banks - Yahoo! News

Awesome. More good decisions by this administration's floundering. It's crises such as these that cause nations to change forever.

============
WASHINGTON - The Bush administration is considering taking ownership stakes in certain U.S. banks as an option for dealing with a severe global credit crisis.

An administration official, who spoke on condition of anonymity because no decision has been made, said the $700 billion rescue package passed by Congress last week allows the Treasury Department to inject fresh capital into financial institutions and get ownership shares in return.

I read an economist's recommendation to Washington this morning that suggest our gov't spend ZILLIONS more to prevent a depression or 10 year long recession. You wouldn't believe the programs being recommended. But one of them is actually buying shares of private corporations.

As an American, I am very saddened to hear that our government is even considering ownership of private companies. So I guess the new era of;

United States of America, Inc.

has begun. Well, it was a great country for 130 years anyway. I'll miss it.