Now Bush is Nationalizing Banks

Discussion in 'Politics' started by JustChristian, Oct 10, 2008.

  1. JustChristian

    JustChristian
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    U.S. will buy stock in banks, Paulson says
    Last time similar program was used was during the Great Depression
    The Associated Press
    Fri., Oct. 10, 2008
    http://www.msnbc.msn.com/id/27123491/?GT1=43001


    WASHINGTON - The federal government will buy stock in American banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said Friday in the latest dramatic effort to reverse a global financial panic.

    “This is a period like none of us has ever seen before,” declared Paulson at a rare Friday evening news conference. He said the government program to buy stock in private U.S. financial firms will be open to a broad array of institutions, including banks, in an effort to help them raise desperately needed cash.

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    So much for a free market economy.
     
  2. LadyEagle

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    This is all a set up for the AC.
     
  3. Enoch

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    They seem to be moving in that direction, especially the blind faith people seem to have in Obama (not that he is the AC). But just how easily people are deceived and controlled by emotion. Times are changing LadyEagle... God protect the future of our children...
     
  4. LeBuick

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    What is AC?
     
  5. Petra-O IX

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    I think LE means to say Anti Communist.:saint:
     
  6. LadyEagle

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    Cute. :laugh:

    AC= Anti-Christ.
     
  7. Petra-O IX

    Petra-O IX
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    Hey I am glad you can take a little ribbing from time to time LE.:godisgood:
     
  8. LeBuick

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    I was thinking Art Cunningham but then wondered how you knew him...
     
  9. saturneptune

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    This is just further evidence that there is no difference between Bush and the Democrats. Bush, Obama, McCain, and the Democratic leaders pushed the bailout bill through Congress, then when rejected, added 150 billion of pork to buy the additional votes.
     
  10. just-want-peace

    just-want-peace
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    MARANATHA!!!! :thumbs::thumbs::thumbs::thumbs:
     
  11. StefanM

    StefanM
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    It's the ole' scheme of privatizing profit and socializing risk. This is absurd. If we are going to socialize, I'd appreciate at least reaping some of the benefits.
     
  12. TomVols

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    :BangHead: More Keynesian claptrap. Just what we need, since that's what helped to get us in this mess to begin with. While there had to be something done to bolster liquidity and thaw the credit markets, there's not much evidence that this would work and it's too soon to tell if the first "bailout" will or won't. The very first step would be to muzzle Jim Cramer and have him stick to Celebrity Apprentice episodes. Next would be Suze Orman,who is now employed by the FDIC's EDIE program. Nice job, govt. Good luck with that. :BangHead:
     

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