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| Topic: White House considers ownership stakes in banks | |
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http://news.yahoo.com/s/ap/20081009/ap_on_bi_ge/meltdown_paulson
Maybe the coffee hasn't kicked in, my engine is not running at full capacity, but the 850 billion dollar bail out was approved last week now the Bush administration and/or the White House wants ownership of certain banks? Can some one break this down for me, I may be too simple too naive but this all looks pretty much like a script to me, all I need is popcorn 
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I haven't read the article yet, saw the headline but just didn't have the patience or strength to deal with it yet. Might need more caffeine. Save room in the lecture hall for me, I might need an explanation too (I'll bring the milk duds
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morn Suz, I'll get started assembling the chairs
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*bump* chairs assembled
ready to learn 
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I still haven't had a chance to read the article
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*pulls up a chair and waits expectantly*
Cause I'm not quite sure what to make of that plan. My first reaction is that government ownership of banks etc would be yet another step our government has taken on its way to a dictatorship. But, I could well be misunderstanding as I'll be the first to admit, money/finances/etc are not exactly my strong suit. But, it feels wrong. 
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*pulls up a chair and waits expectantly* Cause I'm not quite sure what to make of that plan. My first reaction is that government ownership of banks etc would be yet another step our government has taken on its way to a dictatorship. But, I could well be misunderstanding as I'll be the first to admit, money/finances/etc are not exactly my strong suit. But, it feels wrong.
that's how I took it, which is why I'm hoping others share or expand on this - I am always willing to learn... |
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Me too. And God please let it be someone unbiased
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that does it Suz, no one will respond now...
had to pull out the unbiased card
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I don't have a good feeling about that. I wouldn't want to bank at a government owned bank. I would go out of my way to make sure that I don't.
Let me guess...taxpayers would be paying for this too?
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I think it will be the middle class that would pay, and you know middle class means those that earn less than $5million a year.
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I think it will be the middle class that would pay, and you know middle class means those that earn less than $5million a year.
Well, I guess that means that I'm middle class.
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Well, I'm definitely middle class. But I wonder, so many banks own or partially own other banks. Will it be possible to know which are government owned? And then, they can grow so big they'll just swallow the smaller, independent banks. A monopoly could follow but who is there to provide oversight, that would be the government's job and they sure as hell don't police themselves?
Questions to answer, yes? 
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How can Bush be allowed to do something this extreme with so little time left in office? I don't think he should allowed to do this.
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keep your eyes on freddie and fannie.. the feds have had their hands in there since the 30's
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keep your eyes on freddie and fannie.. the feds have had their hands in there since the 30's This is true. But, until recently, they've managed to run themselves fairly well, with (as far as I know anyway) relatively little input by the government. But, if the government gets an ownership control in most of these large banks, that effectively would give them control over every aspect of our lives, with no oversight and no one to be able to stop them from doing whatever they felt like doing. |
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My concern is Bush has x amt of time until he relinquishes the Oval Office, just passed/pushed the bail out, those benefiting from bail out are misappropriating funds for parties (AIG), now the Bush Administration and/or the White House wants ownerships in banks????????????
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My concern is Bush has x amt of time until he relinquishes the Oval Office, just passed/pushed the bail out, those benefiting from bail out are misappropriating funds for parties (AIG), now the Bush Administration and/or the White House wants ownerships in banks???????????? You know, I hate like hell that I'm going to say this. But, the retreat for the AIG execs was probably paid for long before all this happened. Yes, for appearances sake they should probably have cancelled it but I bet they figured (stupidly) that they'd already spent the money, they might as well go. |
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A company thats broke cannot afford to give the type of party AIG have itself, otherwise it was never really broke in the first place. But what do I know, I see things too simple at times.
Don't believe farewell party was paid for in advanced (I may be wrong) thought it was paid for w/funding from bail out. |
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