2010 Prediction: U.S. Will Nationalize Large Banks

[ByLoSellHi]

Surprised?

Don't be, as you see Citi, Bank of America and others nationalized.

After all, the U.K. just pretty much nationalized Lloyds and Royal Bank of Scotland ( http://www.bloomberg.com/apps/news?pid=20601087&sid=a7GNUspBylyw&pos=4 ) , after doing so with Northern Rock earlier.

Great Depression II has never seemed more certain than now.

 

[empee]

why'd we give them all the free money if we end up nationalizing anyway

 

[ByLoSellHi]

Quote from empee:

why'd we give them all the free money if we end up nationalizing anyway

Goldman Sachs...err, I mean Geithner and Paulson, told our government to do so.

 

[logikos]

Surprised? Not really, but this administration has to be concerned about public opinion turning on them now that their socialist agenda has been exposed to the masses. I think they are going to have to try to get the public to support nationalizing the banks, such as blaming them for the stock market tanking again (perhaps caused by the current carry trade bubble popping).

My inclination is to think that this administration does not care about public opinion now that they are in power, but I don't think their entire agenda can be accomplished in two years, so next year's election is very important.

 

[ByLoSellHi]

For large financial firms, money is for nothing, and the chicks (and coke) are free.

They are borrowing money for near 0% and engaging in the highest risks they ever have...even outdoing their egregious bets of 2007.

Heads, they win, and get to keep the profits and pay massive bonuses....

....Tails, they lose, and shove the bill up the U.S. taxpayers' asses.

Last taxpayer willing to subsidize this bullshit, please turn the lights off when you leave.

I'm f**king getting sick of the sameness between asshole Republicans and asshole Democrats.

The system is f**ked beyond redemption. Burn it to the ground and start anew.

 

[logikos]

Quote from ByLoSellHi:

The system is f**ked beyond redemption. Burn it to the ground and start anew.

I agree 100%, bud. I cannot even imagine how to start to unwind this corruption.

 

[the1]

Oh the memories this tune brings back.

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Quote from ByLoSellHi:

For large financial firms, money is for nothing, and the chicks (and coke) are free.

They are borrowing money for near 0% and engaging in the highest risks they ever have...even outdoing their egregious bets of 2007.

Heads, they win, and get to keep the profits and pay massive bonuses....

....Tails, they lose, and shove the bill up the U.S. taxpayers' asses.

Last taxpayer willing to subsidize this bullshit, please turn the lights off when you leave.

I'm f**king getting sick of the sameness between asshole Republicans and asshole Democrats.

The system is f**ked beyond redemption. Burn it to the ground and start anew.

 

[logikos]

"I Want My... I Want My... I Want My T-A-R-P!"