remembering when raegen took over an entire bank and fired their board

Discussion in 'History' started by blu, Oct 16, 2010.

  1. blu
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    blu Senior Member

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  2. midcan5
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    midcan5 liberal / progressive

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    ?

    Nationalize Broken U.S. Banks - BusinessWeek

    "When a bank fails, the FDIC has three options: closure and liquidation, merger with a healthy bank, or nationalization. Most failures are resolved using the merger option, but for very large banks, nationalization for a temporary period may be the best choice for taxpayers.

    In 1984, Continental Illinois Bank, then the seventh-largest bank in the U.S., failed. The FDIC decided to nationalize it. It wiped out existing shareholders, infused capital, took over bad assets, replaced senior management, and owned the bank for about a decade. The management ran the bank like a commercial enterprise, not a government agency. In 1994, it was sold to a bank that is now part of Bank of America (BAC)."



    "The relation between a country's democratic political system and its nondemocratic economic system has presented a formidable and persistent challenge to democratic goals and practices throughout the twentieth century. That challenge will surely continue in the twenty-first century." Robert A. Dahl
     
  3. Liberty
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    Liberty Silver Member

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    this has nothing to do with the topic but your avatar pic just made me throw up all over my cat. now according to your ideology, it is your responsibility now to clean my cat right?
     
  4. uscitizen
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    uscitizen Senior Member

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