All US Financials Will be Nationalized in a Year: Manager

CNBC ^ | 11/21/08

[TigerLikesRooster]

All US Financials Will be Nationalized in a Year: Manager

Companies:Citigroup Inc

CNBC.com | 21 Nov 2008 | 10:10 AM ET Text Size

It's not preferable, but all major U.S. financial companies will eventually be under government control because the alternative is so much worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday.

"All financials will be owned by the U.S. government in a year," Hendry said. "I bet you."

Nationalizations take dramatic losses from the private sector and places them on the larger balance sheet of the public sector, he said.

"It's not good," but society is vulnerable and society is going to have to intervene, Hendry said.

[TigerLikesRooster]

Obama would love to do it. This is something Obama crowd is good at: nationalization.

[TigerLikesRooster]

Ping!

[Boiling Pots]

And he will probably be cheered for it.

Like I’ve been saying for months, perfect storm for Hussein.

[martin_fierro]

[ken21]

the obamao presidency sounds like a coup

beginning with chuck schumer’s fire call of indymac

and aig ...

[TigerLikesRooster]

Hmm... all financials nationalized, probably followed by all MSM's(except FOX and WSJ.)

Soon Fed will account for more than 50% of U.S.(or USSA) GDP.

[ken21]

it’s pretty close to

fascism.

[B4Ranch]

Calls for New World Order
Central bankers from Europe, the Middle East and Brazil met in Frankfurt Friday. Governor of Banco Central do Brazil Henrique De Campos Meirelles speaks to CNBC’s Silvia Wadhwa about the need for a new world order that will reflect the growing power of Brazil and the Middle East.

http://www.cnbc.com/id/15840232?video=935690573&play=1

[downwdims]

Taking over the means of production

[TigerLikesRooster]

Watch all these aspiring NWO members pitching for a seat on the board of directors at NWO, while simultaneously experiencing the collapse of their economic system right under their feet.

It does not inspire confidence. I think countries are vying for a regional representative spot.

[DesertRhino]

How does a corrupt bankrupt government, assuming ownership of a corrupt bankrupt bank, magically make ot solvent again?

It seems like this only puts me on the hook for every bad decision some very bad bankers made, under pressure from a very bad congress.

Oh,,, and it reduces my freedom outrageously.

[dalereed]

If they take a year I can at least get all my funds out of US banks and MM funds!

[TigerLikesRooster]

Your sole reason for existence is to pay taxes to state, leaving barely enough for three meals a day.

[DesertRhino]

You know,, does it kinda seem like it was all planned to be this way? It sure is a big coincidence that suddenly we have almost got defacto one-world government.

Will this end up needing go to guns? Where does this coup end?

[Mad_Tom_Rackham]

God help us.

[CaptainK]

And where would you put them?

[Orange1998]

A year? What are planning to move it with.... a wheel barrow. lol

[Orange1998]

I remember you post way back about this crisis. You were spot on. I can't believe freepers gave you grief over it.

[Thumper1960]

It may soon be "our time".

Just like it was at Concord.

[Dallas59]