Dodd Says Short-Term Bank Takeovers May Be Necessary

Dodd Says Short-Term Bank Takeovers May Be Necessary

www.bloomberg.com

Senate Banking Committee Chairman Christopher Dodd said banks may have to be nationalized for “a short time” to help lenders including Citigroup Inc. and Bank of America Corp. survive the worst economic slump in 75 years.

“I don’t welcome that at all, but I could see how it’s possible it may happen,” Dodd said 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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If the banks are nationalized, Obama's approval rating is going to shrivel so fast it will make the S&P 500 look like a steady decline. How can we, the American people stand by so idly while more and more of our services are nationalized, or are planned to be nationalized? Banks, Healthcare, Education...what next?

www.bloomberg.com
(visit the link for the full news article)

Dodd is in the pocket of Fannie and Freddie. He'd love nothing more than to nationalize, even temporarily. because he stands to make boat loads on it. Damned crook.

Short-term takeover? No such thing.
This is just openly moving everything into the top hands
that already control everything.
Forever.
Not short-term.


[edit on 20-2-2009 by spinkyboo]

VOTE DODD OUT

That guy is an idiot. I can't stand him.

Short term? Just like Social Security was supposed to end up private.

Right, if they Nationalize the banks you might as well kiss the constitution good-by because at that point the entire premise that the constitution was based on will have been eliminated.

Once the government controls the banks they effectively control every aspect of your lives. If this was a few months ago I would say that this would be the straw that breaks the camels back, but now I'm not so sure.

Slippery Slope we do have here.

Has Dodd ever found those documents covering the terms of his mortgage?
He's been "looking" for those for a few months now.

Good ol Dodd.

CT politicians are just as bad as IL politicians when ultimate corruption coupled with pathetic excuses when caught are concerned.