We need to run the Federal Reserve out and reinstate the Gold Standard. Peace, Doc
On Jan 17, 8:51 pm, "M.A. Johnson" <[email protected]> wrote: > A Government Bank? Please, No!Posted by Bill Anderson at January 17, 2009 > 07:54 PM > Nearly a century after the creators of the Federal Reserve System believed > they had given the banking system its "magic bullet," today's government > geniuses are proposing the next logical step:a government bank. No, I am not > kidding:WASHINGTON (Reuters) - The incoming Obama administration is > considering setting up a government-run bank to acquire bad assets clogging > the financial system, a person familiar with the Obama team's thinking said > on Saturday.The U.S. Federal Reserve, Treasury and Federal Deposit Insurance > Corp have been in talks about ways to ease a banking crisis that is once > again deepening -- and a government-run "aggregator bank" is among the > options.Outgoing Treasury Secretary Henry Paulson and FDIC Chairman Sheila > Bair both said on Friday a government bank was one of a number of ideas U.S. > regulators had been discussing.The source said advisers to President-elect > Barack Obama, who takes office on Tuesday, were also considering the idea of > an aggregator bank among a range of options that could be pursued.David > Axelrod, a top adviser to Obama, told Reuters the new administration would > have something to say about a fresh approach to the financial crisis in "the > next few days."Oh, yes, socialism is a "fresh approach." Yeah, it is "fresh" > the same way that a newly-created cowpieis "fresh." I hate to tell these > geniuses that a government bank is going to be enmeshed in all sorts of > corruption and political pressures before long. However, like the Tennessee > Valley Authority, it never will go out of business, just as long as there is > a living, breathing taxpayer to squeeze. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
