Let’s all chip in and buy an island somewhere...let’s start our own nation...I’m not kidding.
Only socialist systems nationalize the banks. Guess Norman Thomas, the ubiquitous American socialist, was right when he said Americans would never knowingly vote for socialism, but socialism would creep into power despite them.
Nooooooooo!!!!
The communization of the late, great America has begun.....
We don’t have a BANKING problem. We have a CREDITs problem.
Banks aren’t (for the most part) holding the bad paper. Hedge funds, foreigners, investment banks (not banks in a proper sense) and speculators are holding it.
Don’t bail out the wrong industry, folks.
Jeez, what stupidity.
Uncle Sam, thanks but no thanks. We don’t need more Federal control of ANYTHING except our sovereign borders!
F___ the Fed and the hounds of hell who created it.
Pritchard is usually pretty well spooled up but here he omits to mention that the fricking Fed can study the Scandahoovian banks until it reaches a permanent state of high orgasmian anticipation, but nothing is going to happen unless and until the geniuses in Congress are willing to drive their comical approval ratings into single digits during an election year. Taxpaying Americans are already enraged by the measures taken already by Mr. Bendover - more of the same from Congress is unlikely, unless it seriously punishes the hedgies and their banker buttboys.
I was talking with someone about this yesterday. They recommended this book and said it is a MUST READ regarding the Federal Reserve, and it will send a chill down your spine, “The Creature from Jekyll Island: A second look at the Federal Reserve”. Here’s an transcribed interview with the author.
http://www.financialsense.com/transcriptions/2006/1018griffin.html
Such a bad idea, I don’t even know where to begin.
Once the Fed shows it can sieze that much capital, NO property is safe. Anywhere.
This is, and should remain, the final bastion against socialism.
I tremble at the thought of what might occur at the hands of a dim congress (with 60 votes in the Senate) combined with the Obamination in the White House.
We're a couple of elections and a USSC Justice away from complete serfdom.
“Norway ensured that shareholders of insolvent lenders received nothing and the senior management was entirely purged. Two of the country’s top four banks - Christiania Bank and Fokus - were seized by force majeure.
“We were determined not to get caught in the game we’ve seen with Bear Stearns where shareholders make money out of the rescue,” said one Norwegian adviser.
“The law was amended so that we could take 100pc control of any bank where its equity had fallen below zero. Shareholders were left with nothing. It was very controversial,” he said.”
Wow. This is insane even by RINO standards.