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Old 02-20-2009, 11:10 AM
 
29,939 posts, read 39,450,111 times
Reputation: 4799

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Bloomberg.com: U.S.

Quote:
Senate Banking Committee Chairman Christopher Dodd said it may be necessary to nationalize some banks for a short time as Citigroup Inc. and Bank of America Corp. tumbled today on concern the U.S. may take over both banks. “I don’t welcome that at all, but I could see how it’s possible it may happen,” Dodd said in an interview on Bloomberg Television’s “Political Capital with Al Hunt” to be broadcast later today. “I’m concerned that we may end up having to do that, at least for a short time.”
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Old 02-20-2009, 11:15 AM
 
19,226 posts, read 15,314,292 times
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Hey, JetGraphics! Where are you?

Does the Constitution allow for nationalizing a bank, or would it be considered a "taking" of sorts?
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Old 02-20-2009, 11:17 AM
 
29,939 posts, read 39,450,111 times
Reputation: 4799
Dow: 7257

Back to dot-com busted levels.
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Old 02-20-2009, 11:21 AM
 
20,187 posts, read 23,844,914 times
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Nationalization? You mean I am paying the wages of overpriced financial advisors and all that crap in BoA and Citi? NO... let them bankrupt and get bought out by someone else.. I don't want to pay a junior CEO millions of dollars so that he can go golfing.. I already have senators that do that...
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Old 02-20-2009, 11:22 AM
 
10,545 posts, read 13,580,303 times
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"Christopher Dodd said it may be necessary to nationalize some banks for a short time"

"as Citigroup Inc. and Bank of America Corp. tumbled today on concern the U.S. may take over both banks.

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Old 02-20-2009, 11:27 AM
 
Location: Thumb of Michigan
4,494 posts, read 7,479,293 times
Reputation: 2541
Quote:
Originally Posted by BigJon3475 View Post
Dow: 7257

Back to dot-com busted levels.
In other news, the sun rose in the east which it will most likely set in the west sometime later in the day, the skies are still blue and there's still oxygen in the air.

Life is great.....
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Old 02-20-2009, 11:29 AM
 
Location: Raleigh, NC
9,059 posts, read 12,967,105 times
Reputation: 1401
Quote:
Originally Posted by Blue Grass Fever View Post
In other news, the sun rose in the east which it will most likely set in the west sometime later in the day, the skies are still blue and there's still oxygen in the air.

Life is great.....
Forgot about the whole "need food to eat" part and "need shelter from elements" part too.
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Old 02-20-2009, 11:34 AM
 
29,939 posts, read 39,450,111 times
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Originally Posted by evilnewbie View Post
Nationalization? You mean I am paying the wages of overpriced financial advisors and all that crap in BoA and Citi? NO... let them bankrupt and get bought out by someone else.. I don't want to pay a junior CEO millions of dollars so that he can go golfing.. I already have senators that do that...
Right now if the truth came out a vote of no confidence would run through the entire nation and it would all be focused on everyone up there. If the truth ever comes out we will see there was actually probably 2 or more trillion in fraud overlooked and embraced by the system. The main reason the first bit of money just disappeared as people are desperately trying to cover tracks. All the authors are being squeezed out like Madoff and this new $8 billion dollar dude. More to come and farther to fall.
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Old 02-20-2009, 11:35 AM
 
Location: Raleigh, NC
9,059 posts, read 12,967,105 times
Reputation: 1401
What a coincidence! Gold crosses $1K rather quickly after Dodd's spiel.
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Old 02-20-2009, 11:36 AM
 
29,939 posts, read 39,450,111 times
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Quote:
Originally Posted by ViewFromThePeak View Post
What a coincidence! Gold crosses $1K rather quickly after Dodd's spiel.
Yeah I noticed it teetering....
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