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Gamakatsu

US government to be largest shareholder of Citibank

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Is this nationalization? yes or no?

 

The reason I ask is I was flipping channels and this hump on CNBC or MSNBC said, "this is not nationalization. we should call it another name."

 

I mean call it whatever you want, but now the fed owns 40% of a bank. Talk about the reason later. Whats the next bank. And if the gov starts getting 40% of the other mega banks. what the hell going to happen.

 

Just me thinking out loud, alot of people will stop using those bank because the fed can do what it wants. Theres no security, no confidence. And now the gov owns 40% of crap, because private investers wont jump in.

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View PostIs this nationalization? yes or no?

 

The reason I ask is I was flipping channels and this hump on CNBC or MSNBC said, "this is not nationalization. we should call it another name."

 

I mean call it whatever you want, but now the fed owns 40% of a bank. Talk about the reason later. Whats the next bank. And if the gov starts getting 40% of the other mega banks. what the hell going to happen.

 

Just me thinking out loud, alot of people will stop using those bank because the fed can do what it wants. Theres no security, no confidence. And now the gov owns 40% of crap, because private investers wont jump in.

 

 

 

the federal governement takes over about 3 banks per week thru the FDIC, has for years. the banks are stabilized and usually sold off.

 

we already"nationalized" the banks under Bush when we bailed them about by recapitalizing them with taxpayer money.

 

all that's left now is to take them over, put them in recievership, and break them up or find new owners.

 

they will be owned for a while by the fed while in recievership but it's not permamnant.

 

the only thing holding this back is the politial clout of the bankers.

 

nationalization = recievership but some people in the media seem to think it means the gubmint owns the banks forever. reminds me of when the media try to talk about guns, they are clueless.

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