Skip to comments.Nationalized Banks: Why They Might Work (Barfer - Pravda MSM Media at it Again!)
Posted on 03/07/2009 12:51:50 AM PST by wac3rd
IndyMac will soon earn the first half of its name back. The government, which seized the failed bank last summer, is expected to close a deal in the next week that would return the California mortgage lender to private ownership. For IndyMac, the deal means independence in less than eight months. For the government, the IndyMac sale provides a shining example that takeovers can work at a time when the Obama administration may soon begin pushing for more nationalizations. (See 25 people to blame for the financial crisis.)
"The fact that the government ownership of IndyMac is coming to an end in just eight months is successful," says Kevin Stein, a former associate director of resolutions at the Federal Deposit Insurance Corporation and an investment banker at FBR Capital Markets. "Nationalization is a tool that has been used in the past and can be effective in the future in certain situations."
(Excerpt) Read more at news.yahoo.com ...
From what I’ve read, the TALF (not TARP), money that was put into motion this week is set aside for ‘subprime’ borrowers at %1 over Libor. Bank rates for people who can’t, and haven’t, payed. This is going to get a whole hell of a lot worse IMO.
Who are they
kidding lying to?
There is always a might, an if, or a maybe connected to a liberals ideas.
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