Dept. Of Treasury Documents Reveal Banks Were Forced To Take TARP Money…
A quick summary of events thus far: Banks were forced to take TARP Money Banks which took TARP money subjected themselves to far reaching govt control As a result, the nine major banks were effectively nationalized. Some argued that banks have only themselves to blame for taking TARP money as they knew the consequences. However, [...]
Obama Continues Assault On The Free Market… Wants to regulate financial industry even further…
I guess the drive to Nationalize the US economy continues. Obama does not seem to care that the very essence of the free enterprise system, aka free market economy, aka capitalism is that folks can decide what their labor is worth, and go find someone who will pay them for it. As if stirring up popular [...]
Citigroup Stock Falls To Below $1 For The First Time In History…
This is a great lesson in why the govt should not get directly involved in the affairs of the market. Despite the fact that Uncle Sam has provided $45 billion of taxpayer money to Citigroup over the last few months, Citigroup’s market value fell to about $5.5 billion today. What this simply means is if [...]
Our Great Leap To National Socialism… Obama Set to Take 40% Stake In Citigroup
As a reminder, here is Lenin in his own words: Only by nationalising the banks can the state put itself in a position to know where and how, whence and when, millions and billions of rubles flow. And only control over the banks, over the centre, over the pivot and chief mechanism of capitalist circulation, [...]
As Obama Refuses To Categorically Rule Out Full Nationalization, Market Pushes Citi and BofA To Verge of Collapse…
In a script that might as well be out of the playbook of the Vladimir Lenin, the socialist founder of the Soviet Union, Barack Obama is creating an environment that brings the Financial industry to a point where full fledged nationalization is the only option. Here is Lenin in his own words: Only by nationalising [...]
