AMERICAblog: "Semi-nationalization" is out and "nationalization" appears to be in
Brian
· 11 months ago
Citibank (and AIG and GMS and Chrysler for that matter) need to file Chapter 11 and reorganize. The Fed can provide financing in the bankruptcy court.
coolcatdaddy
· 11 months ago
Err...excuse me, but...
If some banks are too big to fail, why can't they be broken up into smaller banks?
Why were they allowed to get this big in the first place?
evan_la
· 11 months ago
The term is "too big (to be allowed) to fail". Everyone forgets that parenthetical - and the banks took full advantage of it.
Older_Wiser
· 11 months ago
If the taxpayers are going to have to foot the bill for these banking fools, there is no option BUT nationalization. Better that than constant whining from the "smartest guys in the room" and the raiding of the Treasury with no return for the taxpayers.
Obviously, laissez faire, corrupt criminal capitalism doesn't work. Let's go on with something else.
stymie
· 11 months ago
Fuck em. the banks i mean. Lets give the little people like you and me some cash, say $200,000 to shore up our finances. Try a little "trickle up" theory. This would come with the stipulation it be used for debt reduction 1st, like credit cards, mortgages and car loans. That gives us breathing room and the money trickles up the line to banks and improves their unstable and overvalued products. That way they cannot screw us again because it will likely be easier to provide oversite to this money as opposed to scumbags who are pros at hiding money and have yet to be forthcoming about how they sent the 1st bundle.
Forty2
· 11 months ago
The absolute last thing "they" want is for us to be out of debt. People with no debt, especially if they have a healthy savings account, cannot be cowed, threatened, nor turned into debt slaves.
Without us useless eaters spending like mad and going into debt up to our tits, their power ceases to exist. Fuck em.
Wisconsin Liberal
· 11 months ago
You are so correct. If we aren't under their thumb they wouldn't have the power they do. We need the trickle up economics. It has shown that this is what really works in the long run. We would have a more stable and sustainable economy.
profmarcus
· 11 months ago
nationalized banks... cool...! it will be the absolute death knell for the capitalist, free-market, "invisible hand" quasi-religious ideology... and about goddam time, too...! < /snark >
oh, and by the way, i just so happen to be sitting a mere two hours away from where the burning phosphorus is being dropped, in a little islamic country by the name of jordan... the locals ain't particularly happy with the goings-on to the west...
It's so soothing to come to Ablog, where one is never upset by anything like the incineration of living human flesh when rained upon by burning phosphorus.
Dave of the Jungle
· 11 months ago
This statement presupposes that Palestinians are humans. Just say'n.
mirth
· 11 months ago
Gregory, it's a good idea to read the threads before you make such sweeping and insulting and utterly wrong comments.
Dave of the Jungle
· 11 months ago
A number of us have noticed that the Republicans have violated their professed philosophy of governance more pervasively and in more ways in recent years than we could have ever imagined.
jeffg166
· 11 months ago
When are the all assets of all the jokers who brought this ruin on the world going to be seized?
Dave of the Jungle
· 11 months ago
When we have an extradition treaty with Dubai?
JohnInTexas
· 11 months ago
So is anybody going to be held accountable? didnt' think so
Gregory Lyons
· 11 months ago
We are in the marvelous world in which G W Bush has been not merely the president of the USA for eight years, but where a jibbering genocidal fool has been the absolute master of all he encountered.
The entire political establishment of the USA has been complicit with each and every crime of the Bush Years.
However stupid and insanely criminal George W Bush has been, he has encountered NOT ON IOTA of essential opposition.
RichardfromHB
· 11 months ago
We're debating terminology, Gemany wants an "I'm sorry," from their bankers. German President Horst Köhler, former head of the International Monetary Fund. asked bank managers to apologize for their role in the financial crisis. http://www.spiegel.de/international/business/0,... Accountability seems outside the lines being discussed to date. Even Bernie Made Off with Your Money is under house arrest in his luxury home. What to do; surprise, corporate interests control America. And by the way, the US Supreme Court defines corporations' first amendment rights to include campaign contributions. So we're doomed to the best politicians that money can buy.
Sarah Regenspan
· 11 months ago
Dear America Blog Members,
The country is buzzing. We will watch history unfold as Barack Obama takes office next week. January 20th will usher in a New Day for America and a renewed hope for Just and Humane Immigration Reform.
Now is our time to take action and push for change.
In Washington, DC on the first day of the new administration we will hold a day of ACTION for immigrants’ rights. We need you to be a part of it.
• DONATE: Click here to DONATE to help make the day of action possible. As little as $5 will help us in our goal to create a New America that includes immigrants. • TEXT: Want to receive mobile updates? Text “Justice” [“Justicia” for Spanish] to 69866. • GET OTHERS INVOLVED: Pass this message on to your friends, family and colleagues. (If you are messaging groups – say members here instead) • MARCH: If you will be in DC for the inauguration, come join us on the day of the action. For details visit www.ANewDayforImmigration.org
January 21st will be a New Day for Immigration in this country, but change won’t happen without you. Can we count on you to stand up for immigrants?
Change. It's what most of us are looking for but in increments that don't short circuit our brains all at once. I have written here at Americablog for over two years about exactly what is going to happen and now the trial baloons have been set afloat. Yesterday, both the LA and NY Times papers ran stories on the nationalization of US banks. To hear some say that this is an afront to free market capitalisim, that the government should not be in a position to change the banking paradigm only shows how little we as a society know not only about our government but about banking as well. In the last paragraph of the piece that was posted by Chris a commentator says....“We are down a path that this country has not seen since Andrew Jackson shut down the Second National Bank of the United States,” folks, this is as it should be. We as a people have been brian washed for nearly 100 years in believing that a private banking cartel was what was required in order for a country to grow. The creation of the Federal Reserve in 1913 was the ultimate move in removing the power of money from the people. To add insult to injury, along with the Federal Reserve in 1913 the I.R.S. was also created. Whether Jackson, Jefferson, Lincoln or Kennedy, each of these men knew that giving the creation and control of money to private bankers would destroy our country and what is happening today is all the proof one requires of that fact. Both the Fed and the US Treasury have purchased nearly 8 trillion worth of junk paper that no one else in the world wanted. The American tax payer has now become the lender of last resort and in doing so, we now own large stock positions in the major banks that make up the Federal Reserve. There is one little problem though. There is still another 742 trillion worth of OTC derivatives out there looking for a home and there isn't any way for these numbers to be reconciled as there aren't enough printing presses in the world to cover that debt. Obama does have an incredibile opportunity at hand to finish the job that the current administration has set forth and this goes back to the founding of our country. The Constitution calls for a US Treasury with dollars backed by gold and silver. Soon after taking office, Obama will have no other choice but to revalue our current gold holdings which are now as far as Congress is concerned only worth $42.50 an ounce compared to the $840 an ounce the rest of the world says it is worth. That will be the first step. The second soon to follow with be the nationalization of the major banks which in turn will create a new treasury banking system with dollars once again backed by hard assetts rather than smoke and mirrors. I sincerely hope that Obama is full of surprises, but from a fundemental banking perspective, you can't keep asking the world to fund our debt when you have a currency that isn't worth the paper it is printed on. The rest of the world has caught on to our game and have said no more. Your T-bills are worthless because they are anchored in debt financing, not hard assetts. This will take time to complete, but once it does, the American people will no longer be slaves to a private banking cartel that has literally sucked the life out of us as well as the country. If the US does not change, it will have change forced down its throat by the rest of the world who will no longer accept dollars as a means of trade. We either change the banking system now having the opportunity to do so, or change will be forced on us through a depression that will make 1929 look like a lawn party. The choice is literally ours and this opportunity should not be missed to correct a wrong that is nearly 100 years in the making.
dances with beagles
· 11 months ago
Citibank was nationalized many years ago. The nation is Saudi Arabia, more specifically the Saudi royal family. Citibank=Saudi Arabia, Saudi Arabia=Citibank. The words are functionally equivalent and can be interchanged in any sentence where you see them. The American taxpayer is bailing out and lining the already gilded pockets of the Saudi royal family. It's that simple.
All Comments
If some banks are too big to fail, why can't they be broken up into smaller banks?
Why were they allowed to get this big in the first place?
Obviously, laissez faire, corrupt criminal capitalism doesn't work. Let's go on with something else.
That way they cannot screw us again because it will likely be easier to provide oversite to this money as opposed to scumbags who are pros at hiding money and have yet to be forthcoming about how they sent the 1st bundle.
Without us useless eaters spending like mad and going into debt up to our tits, their power ceases to exist. Fuck em.
oh, and by the way, i just so happen to be sitting a mere two hours away from where the burning phosphorus is being dropped, in a little islamic country by the name of jordan... the locals ain't particularly happy with the goings-on to the west...
http://takeitpersonally.blogspot.com/
The entire political establishment of the USA has been complicit with each and every crime of the Bush Years.
However stupid and insanely criminal George W Bush has been, he has encountered NOT ON IOTA of essential opposition.
The country is buzzing. We will watch history unfold as Barack Obama takes office next week. January 20th will usher in a New Day for America and a renewed hope for Just and Humane Immigration Reform.
Now is our time to take action and push for change.
In Washington, DC on the first day of the new administration we will hold a day of ACTION for immigrants’ rights. We need you to be a part of it.
• DONATE: Click here to DONATE to help make the day of action possible. As little as $5 will help us in our goal to create a New America that includes immigrants.
• TEXT: Want to receive mobile updates? Text “Justice” [“Justicia” for Spanish] to 69866.
• GET OTHERS INVOLVED: Pass this message on to your friends, family and colleagues. (If you are messaging groups – say members here instead)
• MARCH: If you will be in DC for the inauguration, come join us on the day of the action. For details visit www.ANewDayforImmigration.org
January 21st will be a New Day for Immigration in this country, but change won’t happen without you. Can we count on you to stand up for immigrants?
Visit www.anewdayforimmigration.org to DONATE and join the movement.
In solidarity,
Sarah Regenspan
To hear some say that this is an afront to free market capitalisim, that the government should not be in a position to change the banking paradigm only shows how little we as a society know not only about our government but about banking as well.
In the last paragraph of the piece that was posted by Chris a commentator says....“We are down a path that this country has not seen since Andrew Jackson shut down the Second National Bank of the United States,” folks, this is as it should be. We as a people have been brian washed for nearly 100 years in believing that a private banking cartel was what was required in order for a country to grow. The creation of the Federal Reserve in 1913 was the ultimate move in removing the power of money from the people. To add insult to injury, along with the Federal Reserve in 1913 the I.R.S. was also created.
Whether Jackson, Jefferson, Lincoln or Kennedy, each of these men knew that giving the creation and control of money to private bankers would destroy our country and what is happening today is all the proof one requires of that fact.
Both the Fed and the US Treasury have purchased nearly 8 trillion worth of junk paper that no one else in the world wanted. The American tax payer has now become the lender of last resort and in doing so, we now own large stock positions in the major banks that make up the Federal Reserve. There is one little problem though. There is still another 742 trillion worth of OTC derivatives out there looking for a home and there isn't any way for these numbers to be reconciled as there aren't enough printing presses in the world to cover that debt.
Obama does have an incredibile opportunity at hand to finish the job that the current administration has set forth and this goes back to the founding of our country.
The Constitution calls for a US Treasury with dollars backed by gold and silver. Soon after taking office, Obama will have no other choice but to revalue our current gold holdings which are now as far as Congress is concerned only worth $42.50 an ounce compared to the $840 an ounce the rest of the world says it is worth. That will be the first step. The second soon to follow with be the nationalization of the major banks which in turn will create a new treasury banking system with dollars once again backed by hard assetts rather than smoke and mirrors.
I sincerely hope that Obama is full of surprises, but from a fundemental banking perspective, you can't keep asking the world to fund our debt when you have a currency that isn't worth the paper it is printed on. The rest of the world has caught on to our game and have said no more. Your T-bills are worthless because they are anchored in debt financing, not hard assetts. This will take time to complete, but once it does, the American people will no longer be slaves to a private banking cartel that has literally sucked the life out of us as well as the country. If the US does not change, it will have change forced down its throat by the rest of the world who will no longer accept dollars as a means of trade.
We either change the banking system now having the opportunity to do so, or change will be forced on us through a depression that will make 1929 look like a lawn party. The choice is literally ours and this opportunity should not be missed to correct a wrong that is nearly 100 years in the making.