Thursday, April 23, 2009

"Backdoor Nationalization"

Have you noticed that when a newspaper prints an editorial that is unsigned, and purports to be that paper's opinion, that fewer words are minced? A case in point is one printed in the April 21 WSJ. In it the WSJ said , "Note to the White House: Sneaky nationalizations are not any more popular with investors than the straightforward kind." It refers to the market's reaction to the "backdoor nationalization" by the government of some of the nation's biggest banks. Treasury is refusing to allow banks to repay their Troubled Assets Relief Program (TARP) money.

Citibank is now 36% owned by the federal government. Do you think Citibank is likely to oppose anything the government wants to do?

And, what about those of us who are not investors? Do we care about this fascistic takeover of our country?

1 comment:

Terri Wagner said...

Like Reagan said, I'm here from the government and I want to help ought to scare you to death.