Most of what has been used was to purchase Preferred Stock in Banks, to give instant liquidity, but NO BOARD SEATS OR VOTES in bank were taken. Stock was purchased just as if you or I purchased it...no nationalism if no vote or representation on board from government. It was from Paulson that this was said at a news briefing early on after the Preferred Stock purchases.
Note to lurkers:
Please don’t write me cause I don’t give a rat’s rear what you think unless you are person the comment is addressed to, I’m just giving facts..not opinion. I am tired of stupid comments on my comments. Write Paulson or someone who cares.
thanks very much...
What happens when these business fail to pay for these generous loans? If I fail to pay my mortgage, the Bank from whom I borrowed money will most certainly take it over.
I understand they don’t have any seats or votes, the public wouldn’t accept that. But what will happen when they fail? Government should always get the heck out of the way, a better faster more improved business will take over. Just a free market fact.