If We Bail Out the Banks, Why Shouldn't We Own Them?

[Octoldit]

By SAUL LANDAU
March 21, 2009


“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.” -- Thomas Jefferson, 1802

"It’s worse than you can imagine,” a Member of Congress confided to me, referring to the downward spiral of the economy. “We just gave all those hundreds of billions to the bankers so they would lend it and they didn’t lend it and they still want more. The bankers don’t know what they’re doing and Tim Geithner [Treasury Secretary] doesn’t know what he’s doing. We all know this is the worst economic slump of our lifetime.”

While the arcane Washington budget processes – each Senator and Member trying to grab something for his or her district or State -- unfold, the poor should start to worry. They have already lost or about to be lose homes, jobs and health care. The propertied classes focus on their major concern: their property, which stands immeasurably higher in their moral guidelines than the lives and welfare of those without or with less.

The remaining masters of the universe on Wall Street still cling to the idea of their own infallibility. “El Duce is always right,” Mussolini said about himself – before the Partisans hanged him.

http://www.grassrootsnetroots.org/articles/article_17336.cfm

 

[garyd]

Out of Idle curiosity who pays this idiot to write such poppycock?

 

[editec]

I've been asking that ever since I learned that we were taking the toxic debts off the bankers hands instead of first buying the companies based on their real values.


These bastards knew perfectly well what they were doing, folks.

The bond holders won the bet so they get paid.

The bankers got golden elevators and the stock holders got the shaft

Meanwhile the American people are on the hook for ten trillion dollars?

Hang the LOT of them.

 

[garyd]

Yes they did and the government didn't give them any other choice, so they buried their heads in the sand and pretended that ever ioncresing real estate prices wpould be the norm for the next millenium or two and when it wasn't every thing, as was easily predictable, went to hell in a handbasket.

 

[Xenophon]

The bankers don’t know what they’re doing and Tim Geithner [Treasury Secretary] doesn’t know what he’s doing.

The irony is the congress approved this simp.

 

[Skull Pilot]

I would argue that our own government is more a threat to our liberties than either banks or standing armies

 

[sealybobo]

I would argue that our own government is more a threat to our liberties than either banks or standing armies

Any of them could be a threat to our liberties, correct?

And over the last 8 years, government has worked with the bankers/oil men and god knows who else is involved, to threaten our liberties.

Shit, over the last 200 years, if not more.

Don't let them fool you into thinking its one or the other. Its both.

 

[Skull Pilot]

I would argue that our own government is more a threat to our liberties than either banks or standing armies

Any of them could be a threat to our liberties, correct?

And over the last 8 years, government has worked with the bankers/oil men and god knows who else is involved, to threaten our liberties.

Shit, over the last 200 years, if not more.

Don't let them fool you into thinking its one or the other. Its both.

well, look at BooBoo, mister bigger and more expensive government himself finally realizing that the government does not have his best interests at heart.

Which one of your multiple personalities am I addressing today?

 

[editec]

I would argue that our own government is more a threat to our liberties than either banks or standing armies

Specious argument.

It presumes that our government is not the armed wing of the banks.

Banks propose and government dispose, amigo.

Doubt me?

The bankers are getting 9 Trillion dollars to stimulate their economy

The other 300,000,000 of us are supposedly getting 740 Billion to stimulate OUR economy.

You do the math

 

[rayboyusmc]

I hear the right complain about the power of the unions. Poppycock. They had to fight like hell to get some money loaned to them to regroup and get their crap together.]

The banks under Bush and Paulson just got the money and continue to get the money. The bankers own this country and know that congress etc will kow tow to them because of the total mess we would be in if they collapsed.

Government owned banks for those who have defaulted would put reason back into the system. When they prove they can do their job again, they can buy them back.

Jesus drove the money lenders out of the temple. Maybe we need to drive some of these incompetent crooked CEOs out of the industry.