Nationalization of banks? Ohhhhh shit.
 

http://news.yahoo.com/s/ynews/200902...ws/ynews_pl246

Here comes big fucking trouble.

Nationalization + The Amero... shit could get gnarly over the next couple years... I'm stocking my matress up.

I don't mind the US Gov owning the mail or Amtrak, but keep your filthy dirty paws off of my money.

Now they are shaking up UBS and they are going to release US account holders of Swiss Bank accounts. WTF!?!?!

It's gonna get nasty.

wow do we think this will work, or maybe it will turn into curruption system!!!!

Sweden went this route in the 90s I believe. Temporarily nationalized their banks during a crisis and once things settled down made them public companies again. Germany is looking at doing it too. It will happen in the UK. Ireland has already started. Lots of countries will be doing this. Things are really fucked up.

Crazy yo...

If I believed the US Gov would actually step back when the mess was cleaned up or could even clean up the mess, it may not be a bad thing. All they will do is fuck it up worse and sure as hell not walk away from it.

Yeah, I agree. It is because of our government that we are in this crisis. Now the people that fucked things up in the first place are being relied on to fix it all.

We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity, do ordain and establish this Constitution for the United States of America.

• WE Establish Justice
• WE Insure Domestic Tranquility
• WE Provide for the Common Defense
• WE Promote the General Welfare
• WE Secure the Blessings of Liberty (For us and our children)

WE are allowing this to happen by NOT stepping up and changing it. This government has been rogue for a long time now. WE THE PEOPLE are the power. Deny all governments that violate our RIGHTS and our Constitution. Install new justice and welfare. It is our DUTY to do so. We MUST defend our rights, or they will be lost.

Private banking not a sustainable financial model anyway
 

Private banking is not a sustainable financial model. That is not to say they should be nationalized either. There is a third option.

In a private bank you have depositors, shareholders, over-paid executives, and taxes. I never quite understood how one dollar deposit could support paying both interest on my account and feed all those other blood-sucking leeches.

The answer of course is that one dollar deposit could not - that is what got us into this mess. The Fed lowered reserve requirements on the back end to make it look feasible. But today $1.00 deposit in a private bank is worth less than 10 cents (reserve requirement is less than 10%).

If not private banks or nationalization then what? The credit union model. The shareholders in a credit union are the depositors and the credit union itself does not pay taxes because the depositors pay taxes on the interest they earn on their own deposits. The executives at these institutions make a good living, but are not filthy rich like dick-heads at the major public banks.

Let banks fail, support your local credit union.

Try getting those sheep out from in front of the TV long enough to trun them into soldiers.

When Chavez and Evo Morales started the nationalization of companies they became devils for the US and European governments. Now with a crisis on their backs is not so easy to say that nationalization is the enemy of the democracy and the free market… :)

other countries will do the same soon

It's a retarded solution anyway.
They passed laws that allowed the collapse to happen, they saw it coming years ago and did nothing, they saw it coming in the very near future and still did nothing and when it happened, they proposed not one, but two bail outs that have done nothing but put the nation further into debt.

And they want to do MORE?!?!

If the government was just an accountant at some agency, he'd have been fired by now, not given more responsibility.

hahahahaha democracy in full colors

that seal doesnt stand for "we the people"

[img]http://www.maxwellcreek.org/images/n...dollarbill.jpg[/img]

http://www.gofuckyourself.com/showthread.php?t=888638
Germany could do that with one bank soon also

This guy may have something to say about it

what is this world coming to

buy gold....

And bullets. :2 cents:

There's been a run on ammo and gold as of late...

Stupid. Banks were pulling record profits just in 2007. If they would just stay away from risky investments and not be so damn greedy none of this would be an issue.

The record profits in 2007 were in large part from the stupid loans that are fucking them now :)

It's not like it would be the first time. The government has stepped in before and bought a collapsing industry, reformed it, then sold it back to the public.

Know your history :2 cents:

That's not the half of it... wait for the hyperinflation to kick in. Everytime the govt tries to "manage" an economic bust, it creates a larger explosion later..

Oh, well then, what happens to credit cards? Those are underwritten by banks.. will the government then control, own and operate these as well?

What's next? The government will dictate to you how much you're allowed to take out of your account and also monitor every deposit and want to know its source.. Will they freeze your funds at will whenever they feel like it.. perhaps create yet another tax and take it directly from your bank account...

Oh, maybe it'll just become a cashless society someday, where the government can control every single penny!!

True but canadian banks also had record profits and aren't in the same situation at all.

nationalization is a horrible idea, many of these heavily damaged banks need to fail.

one need only look at how the gov mishandled wamu to see the potential disaster in nationalizing the banks without protecting bondholders

Well, if you buy into the conspiracy theory stuff, then yea.

World Bankers make the rules. They want your money. You will see many European countries nationalizing their banks as well too as this crisis gets worse, and it's gonna get a lot worse. Once the governments control your money, they actually can control what you spend, deposit, withdraw, save and track every penny of it. A cashless society will happy sooner or later, that just makes sense.

Maybe if the government ran it, maybe you wouldnt have a cc that starts at 8 percent and then shoots up to 30 percent. Or it would be easier to finance your house. Bankers dont have to worry about being reelected.

Could happen. It could also end up as big of a cluster fuck as your local state operated DMV. lol

This is not the rail roads. Please show me when in history our Gov has taken over the banks.

they already do, can, and will all of the above

So uh .. you organizing a militia or something? Hint. You can tell how good you are at "herding" by yer alexa numbers.

Neither do IRS agents but still... "The penalty for filing late is generally 5 percent per month, or part of a month, up to 25 percent of the amount of the tax shown due on the return."

How about 80%?

Continental Illinois.

I have been warning you for years. This is the change you can believe in.