What do you think threatening nationalizing the banks has on Credit markets?

This is so bizarre. Obama claims that he wants to help the economy and he lets banks fear that they are about to be nationalized. Talk about paralyzing the financial system.

Bank of America Corp. (BAC) (BAC) Chief Executive Ken Lewis capped off a week of defending his bank and his role in it on Friday by firing back against rumors that his company could be in danger of nationalization.
"It's absurd," Lewis said in an interview on CNBC, adding that he knows of no government officials who have talked about nationalizing the bank.
Treasury Secretary Timothy Geithner and other top officials are close to finishing a plan to overhaul the government's $700 billion financial rescue fund. Some investors in recent days have been worried that the government's latest revisions to its lifeline for banks would involve nationalizing many banks. . . .

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Blogger Martin G. Schalz said...

This strikes me as a very carefully crafted plan of a reverse coup d’état by the current administration. An overt means by which to destroy any power of the people to keep government in check.

Regulations are one thing, but to take over the Financial institutions of America are another.

Time and again, have we witnessed graft, corruption, inside deals, outright theft, and the loss of rights of the people.

Every damn time the Government says they know more than we do, we lose. This is no exception.

"If you would know the value of money, go and try to borrow some."
Benjamin Franklin

"Life's Tragedy is that we get old to soon and wise too late."
Benjamin Franklin

"Many people die at twenty five and aren't buried until they are seventy five."
Benjamin Franklin

"Rebellion against tyrants is obedience to God."
Benjamin Franklin

"Remember that credit is money."
Benjamin Franklin

"The strictest law sometimes becomes the severest injustice."
Benjamin Franklin

Ben. Good 'ol Ben. BHO quotes many a dead man, yet understands nothing but propaganda. After all, it is propganda that makes him who he is. Or should I say, how he got to where he is.

For many years now, we have been indoctrinated to believe in utter nonsense. Our children have been brainwashed. We are inundated with Television shows that prove to us that we cannot withstand anything the government does.

Perhaps this is our wakeup call. If, in fact, BHO deems that it is the banks whom are at fault, and not those Democrats who caused this failure in the first place, will he not seek to control that which he mistakenly (or purposefully) blames for this mess?

I have seen in person, webscrubbing, outright lies, disinformation, redirection of blame, and lots of spiffy speeches that were designed to sway others. What next... Book burning?

Barrack uber alles! Du doch nicht!

2/07/2009 6:16 PM  

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