Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

NYT: U.S. May Take Ownership Stake in Banks
New York Times ^ | October 9, 2008 | By EDMUND L. ANDREWS and MARK LANDLER

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 Fed’s Rate Cut Times Topics: Credit Crisis — The Essentials

(Excerpt) Read more at nytimes.com ...


TOPICS: Breaking News; Business/Economy; Constitution/Conservatism; News/Current Events
KEYWORDS: banking; communistmanifesto; decline; nytimes; socilism; takeover
Navigation: use the links below to view more comments.
first 1-5051-66 next last
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 Fed’s Rate Cut Times Topics: Credit Crisis — The Essentials

1 posted on 10/09/2008 4:25:01 AM PDT by RaceBannon
[ Post Reply | Private Reply | View Replies]

To: RaceBannon; stowaway; jjm2111; Mrs.LoneGOPinCT; underbyte; badbackman; Bigfitz; mcswan; ...

Socialism...it is here.


2 posted on 10/09/2008 4:25:51 AM PDT by RaceBannon (Innocent until proven guilty; The Pendleton 8: We are not going down without a fight)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon

Any purchases of stock would most likely be of non-voting preferred stock, and not of voting common stock.


3 posted on 10/09/2008 4:26:07 AM PDT by snowsislander
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon

Or, is this “Compassionate conservatism.”


4 posted on 10/09/2008 4:29:36 AM PDT by Boiling Pots (Wright, Ayers, Alinsky, ACORN and Odinga - Attack!!)
[ Post Reply | Private Reply | To 2 | View Replies]

To: RaceBannon
Socialism...it is here

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.

5 posted on 10/09/2008 4:30:09 AM PDT by LikeLight (http://www.believersguidetolegalissues.com)
[ Post Reply | Private Reply | To 2 | View Replies]

To: RaceBannon

It won’t help at all. If banks keep writing derivatives, there is no end in sight to the mess.


6 posted on 10/09/2008 4:30:53 AM PDT by finnsheep
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon

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


7 posted on 10/09/2008 4:32:27 AM PDT by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: finnsheep

Derivatives? Please. It’s all about mortgages to low-income people.


8 posted on 10/09/2008 4:32:27 AM PDT by Wolfie
[ Post Reply | Private Reply | To 6 | View Replies]

To: Wolfie
Derivatives? Please. It’s all about mortgages to low-income people.

Sorry, but it's both.

9 posted on 10/09/2008 4:34:19 AM PDT by dirtboy
[ Post Reply | Private Reply | To 8 | View Replies]

To: Wolfie

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


10 posted on 10/09/2008 4:34:25 AM PDT by silverleaf (Fasten your seat belts- it's going to be a BUMPY ride.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: LikeLight

AIG turned out to have spent what,$4000 on each person?Hardly what I would call wasteful spending for rewarding sales people.


11 posted on 10/09/2008 4:35:48 AM PDT by quack ("Those Who Sacrifice Liberty For Security Deserve Neither.")
[ Post Reply | Private Reply | To 5 | View Replies]

To: dirtboy; silverleaf

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.


12 posted on 10/09/2008 4:36:49 AM PDT by Wolfie
[ Post Reply | Private Reply | To 9 | View Replies]

To: RaceBannon
Socialism...it is here.

Not if they are bankrupt, the US is a creditor.

13 posted on 10/09/2008 4:39:37 AM PDT by Raycpa
[ Post Reply | Private Reply | To 2 | View Replies]

To: RaceBannon

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.


14 posted on 10/09/2008 4:41:26 AM PDT by Raycpa
[ Post Reply | Private Reply | To 1 | View Replies]

To: finnsheep
If banks keep writing derivatives, there is no end in sight to the mess.

Nonsense.

15 posted on 10/09/2008 4:42:31 AM PDT by tcostell (MOLON LABE - http://freenj.blogspot.com - RadioFree NJ)
[ Post Reply | Private Reply | To 6 | View Replies]

To: Wolfie
If financial insitutions had not been allowed to run amok with derivatives and credit swaps, we wouldn’t be where we’re at today.

If we were all still riding horses just think of all the car accidents that would have been avoided.

16 posted on 10/09/2008 4:43:50 AM PDT by tcostell (MOLON LABE - http://freenj.blogspot.com - RadioFree NJ)
[ Post Reply | Private Reply | To 12 | View Replies]

To: finnsheep

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.


17 posted on 10/09/2008 4:43:53 AM PDT by oblomov
[ Post Reply | Private Reply | To 6 | View Replies]

To: RaceBannon
U.S. May Take Ownership Stake in Banks

Break it. Fix it. Retain the newly-acquired powers.

Nope, never seen that before! /s
18 posted on 10/09/2008 4:44:16 AM PDT by LearsFool ("Thou shouldst not have been old, till thou hadst been wise.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon
Report: U.S. Considering Taking Ownership Stake in Banks

cross-linking

19 posted on 10/09/2008 4:47:46 AM PDT by prairiebreeze ( Our troops DESERVE BETTER than Barack Hussein Obama!!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon
Never thought I'd say this, but I would rather see the Fed loan to the businesses who can't get credit, directly.

If the middlemen don't want to play any more, they can stay off the field.

20 posted on 10/09/2008 4:50:02 AM PDT by Notary Sojac
[ Post Reply | Private Reply | To 1 | View Replies]

To: tcostell

Ok. Sure thing.


21 posted on 10/09/2008 4:50:40 AM PDT by Wolfie
[ Post Reply | Private Reply | To 16 | View Replies]

To: Wolfie
Of course, suggesting such is heresy.

That it is. Something this screwed up is a team effort between Washington, Wall Street AND large swaths of Main Street.

22 posted on 10/09/2008 4:50:56 AM PDT by dirtboy
[ Post Reply | Private Reply | To 12 | View Replies]

To: tcostell; Wolfie
If we were all still riding horses just think of all the car accidents that would have been avoided.

Of course, basic regulations and laws are what makes car travel possible.

Shoot yourself in the foot often?

23 posted on 10/09/2008 4:52:12 AM PDT by dirtboy
[ Post Reply | Private Reply | To 16 | View Replies]

To: Raycpa
Lets have the SS monies purchase bargain banks.

The feds spent that money long ago.

24 posted on 10/09/2008 4:52:49 AM PDT by dirtboy
[ Post Reply | Private Reply | To 14 | View Replies]

To: dirtboy

Nah. We turn anybody loose on the roads to do whatever they want, and whatever happens, the taxpayer cleans it up. Not.


25 posted on 10/09/2008 4:53:58 AM PDT by Wolfie
[ Post Reply | Private Reply | To 23 | View Replies]

To: RaceBannon
Back in the US, back in the US, back in the USSA...

We're from the government and we're here to help...
26 posted on 10/09/2008 4:55:15 AM PDT by wolf78
[ Post Reply | Private Reply | To 1 | View Replies]

To: dirtboy

Its not in a lock box?


27 posted on 10/09/2008 4:55:38 AM PDT by Raycpa
[ Post Reply | Private Reply | To 24 | View Replies]

To: Notary Sojac

I like that idea.


28 posted on 10/09/2008 4:56:23 AM PDT by listenhillary (Should we turn Alaska or Texas into our Galt's Gulch?)
[ Post Reply | Private Reply | To 20 | View Replies]

To: RaceBannon
Fed officials increasingly talk about the challenge they face with a phrase that President Bush used in another context: “regime change.”

Gee, I can't wait for the "surge" to kick in.

29 posted on 10/09/2008 4:58:41 AM PDT by TADSLOS (Cure CINOism- Write in proven conservatives at all levels on the ballot)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon

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


30 posted on 10/09/2008 5:00:26 AM PDT by VlPu
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon; All
Mark my words, all you people who are demanding more regulation of banks will come to regret it. It's going to effect your lives in ways that you don't see yet. You're foolishly going to be putting control of important parts of your life into the hands of Barney Frank and Chuck Schumer. There has been a lot of stupid behavior in the last few years, but it's nothing compared to what those two will be doing to you.

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.

31 posted on 10/09/2008 5:06:05 AM PDT by tcostell (MOLON LABE - http://freenj.blogspot.com - RadioFree NJ)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RaceBannon
NYT: US MAY TAKE OWNERSHIP IN BANKS:

I think it's Pinch's way of saying he wants to diversify. The Times' grammatical standards have certainly dropped.

32 posted on 10/09/2008 5:06:44 AM PDT by Tribune7 (Obama wants to put the same crowd that ran Fannie Mae in charge of health care)
[ Post Reply | Private Reply | To 1 | View Replies]

To: LikeLight
AIG getting thrashed for rewarding its top performing sales people.

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.

33 posted on 10/09/2008 5:22:09 AM PDT by theDentist (Qwerty ergo typo : I type, therefore I misspelll.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: LikeLight

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!


34 posted on 10/09/2008 5:31:27 AM PDT by WesA (RE think that.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: LikeLight
AIG getting thrashed for rewarding its top performing sales people.

Nobody threw a party for the hardworking crew of the Titanic.

35 posted on 10/09/2008 5:43:56 AM PDT by P-Marlowe (LPFOKETT GAHCOEEP-w/o*)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Wolfie

“Derivatives? Please. It’s 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.


36 posted on 10/09/2008 6:01:58 AM PDT by A Strict Constructionist (I think faster than I type, lousy proofreader, deal with it.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: A Strict Constructionist
Anything that is created without “real” value is worthless paper as we’re seeing.

The U.S. Dollar, for example.

37 posted on 10/09/2008 6:07:11 AM PDT by Wolfie
[ Post Reply | Private Reply | To 36 | View Replies]

To: RaceBannon

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?


38 posted on 10/09/2008 6:08:13 AM PDT by DemonDeac
[ Post Reply | Private Reply | To 1 | View Replies]

To: Raycpa
Lets have the SS monies purchase bargain banks.

when did they find a key for the 'lockbox' ???

those SS monies are simply more worthless paper...

39 posted on 10/09/2008 6:09:09 AM PDT by Gilbo_3 ("JesusChrist 08"...Trust in the Lord......=...LiveFReeOr Die...)
[ Post Reply | Private Reply | To 14 | View Replies]

To: snowsislander

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.


40 posted on 10/09/2008 6:33:12 AM PDT by dools007
[ Post Reply | Private Reply | To 3 | View Replies]

To: dools007

New World Order ordered up.

What is next on the menu?


41 posted on 10/09/2008 6:37:23 AM PDT by dforest (Is there any good idea out there that Obama doesn't lay claim to anymore?)
[ Post Reply | Private Reply | To 40 | View Replies]

To: LikeLight
"AIG getting thrashed for rewarding its top performing sales people"

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.

42 posted on 10/09/2008 6:40:11 AM PDT by Psycho_Bunny (By Obama's own reckoning, isn't Lyndon LaRouche more qualified? He's run since the 70's)
[ Post Reply | Private Reply | To 5 | View Replies]

To: indylindy
"What is next on the menu?"

NASCAR

43 posted on 10/09/2008 6:42:22 AM PDT by verity ("Lord, what fools we mortals be!")
[ Post Reply | Private Reply | To 41 | View Replies]

To: verity

What, gubmint ownershop of Nascar. LOL

next item?


44 posted on 10/09/2008 6:44:48 AM PDT by dforest (Is there any good idea out there that Obama doesn't lay claim to anymore?)
[ Post Reply | Private Reply | To 43 | View Replies]

To: RaceBannon
Socialism...it is here.

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.

45 posted on 10/09/2008 6:44:48 AM PDT by 1Old Pro
[ Post Reply | Private Reply | To 2 | View Replies]

To: silverleaf
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

SO YOU AND ME AND THE REST OF THE RESPONSIBLE HOME OWNERS, are no forced to pay for personal mistakes and greedy mortgage lenders.

46 posted on 10/09/2008 6:46:14 AM PDT by 1Old Pro
[ Post Reply | Private Reply | To 10 | View Replies]

To: Wolfie

Right on but at least it has a semblance of value unlike some of the WS paper.


47 posted on 10/09/2008 6:58:17 AM PDT by A Strict Constructionist (I think faster than I type, lousy proofreader, deal with it.)
[ Post Reply | Private Reply | To 37 | View Replies]

To: WesA
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!

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.

48 posted on 10/09/2008 7:15:35 AM PDT by 3catsanadog (Drill here, drill now!!!!!)
[ Post Reply | Private Reply | To 34 | View Replies]

To: All

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?


49 posted on 10/09/2008 7:18:44 AM PDT by John W (Lord Barry heal the bitter ones)
[ Post Reply | Private Reply | To 48 | View Replies]

To: Notary Sojac

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.


50 posted on 10/09/2008 7:19:34 AM PDT by ConservativeMind (The LA Times, 10/6/08, was told to cut "75 editorial positions." How many are needed for 2 pages?)
[ Post Reply | Private Reply | To 20 | View Replies]


Navigation: use the links below to view more comments.
first 1-5051-66 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson