The GOP is Screwed, and So Are We

Here’s a prime example of why the Republicans lost the election, and can’t hope to win anything back anytime soon: Nationalization: Is It the Only Answer to Save Banks?: A year ago, it would have been unthinkable: Sen. Lindsey Graham advocating a government takeover of private banks — but that is exactly what he suggested […]

Citigroup to be Nationalized?

And the fun never ends: Citigroup Nationalization: Good Bank, Bad Bank Several sources are now reporting that Citigroup is nearing a deal with the government to create a seperate “bad bank” to house $50 billion worth of toxic mortgage and other assets, as well perhaps a $1 trillion or more in off-balance-sheet entitites. The WSJ‘s […]

Democrats to Nationalize Another Industry?

Here it is, yet another partial nationalization of an American industry: Democratic Proposal Includes Federal Stake in Car Companies: Congressional Democrats are pushing legislation to send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies. House Speaker Nancy Pelosi, D-Calif., and Senate […]

U.S. Government Begins Nationalizing American Businesses

Let the party begin: The U.S. government will start doling out $125 billion to nine major banks this week to get credit flowing again, but Monday’s announcement offered cold comfort to investors as rising anxiety about a worldwide recession drove stocks down sharply around the globe.  Assistant Treasury Secretary David Nason said the deals with […]