Posted on 04/20/2009 3:24:40 AM PDT by NoPrisoners
Strong banks will be allowed to repay bail-out funds they received from the US government but only if such a move passes a test to determine whether it is in the national economic interest, a senior administration official has told the Financial Times.
“Our general objective is going to be what is good for the system,” the senior official said. “We want the system to have enough capital.”
(Excerpt) Read more at ft.com ...
The iron fist of fascism is becoming more obvious.
Was this in the original agreement? I doubt it.
It's funny how a few years makes such a big difference in the economy. I just bought my first house a year ago, and the experience was relatively pleasant. I had all of my paperwork in order, I knew what I was getting, fixed interest rate, 30 years, and well under what I could "handle" but perfect for what I could "afford."
The biggest thing I look for with credit are early repayment penalties. It never made any sense to me that one would charge someone a fee to pay them back quicker. I would think the bank would be overjoyed at this prospect. We live in very strange times.
Obama wants to control the banks and the entire economy. Obama is actually more of a fascist than Hitler in the true sense of the work.
If the business community and heads of banks do not unite and come out strongly against this, it’s over.
was this in the original agreement?
I would cut the check and get one of those oversized copies, call all the media, especially fox news, to be at the Treasury Dept. when they hand deliver the check. Make a big media event of Feds refusing to accept the money! It probably wouldn’t hurt to buy some ad time on the MSM to get it covered.
Funny, I just want the American Treasury repaid as soon as possible for this stupid boondoggle to begin with.
You gotta love socialism. No, we don’t want your money back. We want equity instead, so we can control you.
I wonder how Wall Street will react in the AM.
I doubt any sensible banker would have agreed to this. If I am remembering correctly, there were few preconditions (if any) in the original plan.
A very good idea!
Just good ol' Chicago-style politics. Where's Eliot Ness when you need him? (P.S. - I'm from Chicago originally).
Fascism in America, and no one is reporting it.
“Our general objective is going to be what is good for the system,” the same words work for the drug cartel,mafia...
"We are going to take things away from you on behalf of the common good."
The statements in the interview could have been made right out of Atlas Shrugged! Who will be the first Hank Reardon?
When the government can rewrite any contract or agreement it wants it is a fascist dictatorship and by definition it is not operating under the rule of law, IMO.
The Chief Honcho of GM!
You take the kings money, you do the kings bidding....
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.