Gawain 0 #1 April 20, 2009 http://online.wsj.com/article/SB124019955514434181.html#mod=rss_Politics_And_Policy QuoteThe Obama administration has said it would consider taking a more activist role with financial companies that receive an "exceptional" amount of government assistance, including possibly removing management or board members. Meanwhile, Citigroup, already under government control, is benefiting from taxpayer money into a "black hole" because despite their recent profit posting, Citigroup is still contending with rapid credit losses. Again I say, it's never enough is it? White House Chief of Staff Emanuel was quoted on the radio this morning that nationalization isn't desired or felt to be the right option. Given the "say one thing, do another" stance with this administration so far (some on things I agree with, disagree on many of course), I don't hold a lot of water for these statements. The government has made its ill-advised financial stakes in these banks, and now needs to ensure the circumstances exist for these business to flourish again and pay the money back. That goal is not achieved through nationalization or continued overbearing oversight by those that don't know sh*t about banking (see: House and Senate Finance Committees). It is also not achievable as long as this government continues to spend money it does not have. QuoteForeign Holdings Foreign investors including central banks own $3.16 trillion, or 50 percent, of the $6.27 trillion in marketable Treasuries outstanding, according to Treasury data. The U.S. needs to raise $3.25 trillion this fiscal year, as the government finances bank bailouts, stimulates the economy and services deficits, according to Goldman Sachs Group Inc. Folks, the bottom line is this: If the government does not curtail this massive spending, if the fed doesn't stop printing money, we are facing serious inflation issues, and our own stake will be called through significantly higher taxes. At some point, institutional investors will walk away from the US.So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
Channman 2 #2 April 20, 2009 From FT.com Financial Times. "US to put conditions on Tarp repayment" "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". This is BS... like a mortgage company telling me I can't pay off my mortgage, until I can pass some test they devised and will determine if I meet their standards for paying off my mortgage. There is a plan, and that plan is CONTROL of the Financial Institutions. Quote Share this post Link to post Share on other sites
Coreece 190 #3 April 20, 2009 Quote like a mortgage company telling me I can't pay off my mortgage, until I can pass some test they devised and will determine if I meet their standards for paying off my mortgage. sign me up....Your secrets are the true reflection of who you really are... Quote Share this post Link to post Share on other sites
