Treasury may take stakes in banks

Treasury may take stakes in banks

www.newsobserver.com

Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many U.S. banks to try to restore confidence in the financial system

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I think I'm going to throw up.

Dirty little fingers in all the pies, but I guess it shouldn't come as such a big surprise as the governments around the world unify their stranglehold on the banks and financial institutions in general.

As a bit of an aside, and a hell of a good question, why are these govenments clamouring over each other to bail out the banks when they collectively turned their backs on the manufacturing sector (and all us blue collar types) repeatedly over the past five or so years while our futures swirled about the loo.

GM, on of the country's largest employers, has seen their stock drop from $44 to $7 per share in a year, with tens of thousands shoved out the door, with the trickle down in the supply sector resulting in hundreds of thousands on the outside looking in.

Oh yeah, AIG got another $38 billion yesterday.




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(visit the link for the full news article)