White House considers ownership stakes in banks
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.
Re: White House considers ownership stakes in banks
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.
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