Bank Takeover.

[Wolfling68]

http://www.nytimes.com/2009/04/20/bu...20bailout.html


"In a significant shift, White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they had expected a few months ago, simply by converting the government’s existing loans to the nation’s 19 biggest banks into common stock.
Converting those loans to common shares would turn the federal aid into available capital for a bank — and give the government a large ownership stake in return.
While the option appears to be a quick and easy way to avoid a confrontation with Congressional leaders wary of putting more money into the banks, some critics would consider it a back door to nationalization, since the government could become the largest shareholder in several banks."



One of the biggest differences between preferred stock and common stock is preferred stock gets paid first, common stock has voting rights. Why does our government need voting rights in the banks?

I haven't been able to find anything more recent than this, I don't know how far they've already gone.

The question to ask a liberal is “How will you feel about this when it is managed by a President Sarah Pallin appointee?”

[capo2186]

Let’s see what happens. It is not certain yet that Palin will be around in the next election. Personally, I think she needs alot of work (and hopefully she is taking the time to work on her areas of needs improvement if she is going to run). Let’s hope that the next big election turns out in our favor. However, we also need to be concerned with the other elections along the way. I am talking about State and local city levels as well. It is not just the big dog that matters. We need to do our share on all levels. Just my $.02

[Wolfling68]

Let’s see what happens. It is not certain yet that Palin will be around in the next election. Personally, I think she needs alot of work (and hopefully she is taking the time to work on her areas of needs improvement if she is going to run). Let’s hope that the next big election turns out in our favor. However, we also need to be concerned with the other elections along the way. I am talking about State and local city levels as well. It is not just the big dog that matters. We need to do our share on all levels. Just my $.02

I use it as an illustration and for shock value, I don't believe she could win in a national election. But the point is, she is the worst possible case for liberals, and it illustrates someone they fear and hate could one day be in power. Do they really want someone they fear and hate to have that much control?