Skip to comments.NYT: U.S. May Take Ownership Stake in Banks
Posted on 10/09/2008 4:25:01 AM PDT by RaceBannon
U.S. May Take Ownership Stake in Banks Treasury Dept. Would Hope to Spur Lending By EDMUND L. ANDREWS and MARK LANDLER Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash into banks that request it.
Q & A: The Feds Rate Cut Times Topics: Credit Crisis The Essentials
(Excerpt) Read more at nytimes.com ...
Q & A: The Feds Rate Cut Times Topics: Credit Crisis The Essentials
Socialism...it is here.
Any purchases of stock would most likely be of non-voting preferred stock, and not of voting common stock.
Or, is this “Compassionate conservatism.”
We're in it thick now. And it's already getting ugly. AIG getting thrashed for rewarding its top performing sales people. In Socialism, only the political class gets the perks. Who do these hard working salespeople think they are, to expect rewards for their own hard work and success? No, from now on the Party will decide who gets rewarded. It's a dark day for America.
It won’t help at all. If banks keep writing derivatives, there is no end in sight to the mess.
the deeper the govt gets, the deeper the hole they dig
obviously the Paulson/Pelosi/Frank “bailout” plan is so deeply flawed that banks eschew using it
So their answer is to takeover the banks?
we are in deep deep doo-doo
Derivatives? Please. It’s all about mortgages to low-income people.
Sorry, but it's both.
Im sure a significant portion of the nonperforming mortgages are to middle income folks who unwisely chose teaser ARMS and now cannot refinance and are getting no cooperation from the lenders
AIG turned out to have spent what,$4000 on each person?Hardly what I would call wasteful spending for rewarding sales people.
I was being sarcastic.
If financial insitutions had not been allowed to run amok with derivatives and credit swaps, we wouldn’t be where we’re at today. Of course, suggesting such is heresy.
Not if they are bankrupt, the US is a creditor.
I have an idea. Lets have the SS monies purchase bargain banks. We can kill two birds with one stone. If it works we solve the funding SS problem. If it fails we get rid of SS.
If we were all still riding horses just think of all the car accidents that would have been avoided.
The root of the problem is the desire of the majority of the polity to live beyond its means. So the government runs deficits, and the consumer has debt. Then a so-called unexpected crisis occurs, the debts can’t be repaid, and our rulers and commentators scurry to restore a “confidence” that should never have existed.
If the middlemen don't want to play any more, they can stay off the field.
Ok. Sure thing.
That it is. Something this screwed up is a team effort between Washington, Wall Street AND large swaths of Main Street.
Of course, basic regulations and laws are what makes car travel possible.
Shoot yourself in the foot often?
The feds spent that money long ago.
Nah. We turn anybody loose on the roads to do whatever they want, and whatever happens, the taxpayer cleans it up. Not.
Its not in a lock box?
I like that idea.
Gee, I can't wait for the "surge" to kick in.
It is as simple as this: the system is collapsing and the system managers can do nothing about it but keep taking away from their sheep what they still have left.
Collapse of Major Banks is yet another step on that process. It is by far the most risky one, but since their sheep were disarmed and are totally brainwashed, the illuminati are ready to continue game in overtime.
Posted LONG BEFORE “Collapse of Banks” chapter begun
You don't see it yet, but you're surrendering your freedom for nothing other than the chance to 'punish the rich guy', or the 'Wall street fat cat'. You're making yourselves the willing tools of evil men.
It's a shame to watch if you ask me.
I think it's Pinch's way of saying he wants to diversify. The Times' grammatical standards have certainly dropped.
They can reward them; take the $400K they blew divvy it up among the top performers. But throwing a $400K soiree when your corp lost billions upon billions isn't sensible. Especially when Joe Taxpayer is bailing you out against his will.
give em an inch...pretty soon you will be paying more than half your income in taxes, it will be illegal to have a cigarette before you are 18, or a drink before you are 21, or to not wear your seatblet..O WAIT!
Nobody threw a party for the hardworking crew of the Titanic.
“Derivatives? Please. Its all about mortgages to low-income people.”
It’s about greed. Anything that is created without “real” value is worthless paper as we’re seeing. It can also be seen as the reverse of Communism, the needs of the few outweigh the needs of the many. And that ain’t Capitalism, either.
The U.S. Dollar, for example.
I think i’m taking crazy pills. Some of the most socialistic things in American history are here and its a President who I voted for who is leading the charge. And our standard bearer is going right along. What in the world is happening?
when did they find a key for the 'lockbox' ???
those SS monies are simply more worthless paper...
How big a step is it to go from one to the other. I smell a rat.
Could it be that genuine capitalists have been replaced by socialists whose ultimate goal is government control of the economy? There is so much more going with regard to this so-called crisis than is visible. Seems like the socialists are well into executing a very well thought out game plan.
New World Order ordered up.
What is next on the menu?
That's a valid argument only if the company in question isn't nose-diving into the ground from 50,000 feet and then demanding a bailout.
What, gubmint ownershop of Nascar. LOL
I was listening to a Dem Congresswomen on FIOX last night saying "We own AIG and they must now act like government employees" in response to a question regarding their luxury spending spree. THIS IS TERRIBLE.
SO YOU AND ME AND THE REST OF THE RESPONSIBLE HOME OWNERS, are no forced to pay for personal mistakes and greedy mortgage lenders.
Right on but at least it has a semblance of value unlike some of the WS paper.
Course considering how greedy the government is getting for more and more tax money from us, they'll probably start encouraging more and more people to smoke ("uh, we were wrong about cigarettes causing cancer"). And then increase the cigarette tax.
Shoot, they may even let TV show cigarette commercials again.
Y'all know I'm making fun, but nothing the government will do anymore surprises me.
From news reports-—
“Stocks rose more than 1 percent on Thursday as a stronger-than-expected profit from technology bellwether IBM (NYSE:IBM - News) suggested that the credit crunch is not stifling all business spending.”
Why would IBM profit suggest that?
I’d rather see that than the government buying their bad, unvaluable, mortgages.
However, I’d rather they buy stocks and bonds, which they later sell, than buy bad mortgages, which is what they were expecting to do with the $700 billion.
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