White House considers ownership stakes in banks

Discussion in 'Political Discussion' started by STFarmy, Oct 9, 2008.

  1. STFarmy

    STFarmy In the Starting Line-Up

    Sep 14, 2004
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    +6 / 0 / -0

    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.
  2. PatriotsReign

    PatriotsReign Hall of Fame Poster

    Jan 15, 2007
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    +746 / 9 / -27

    #18 Jersey

    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.

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