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Originally posted by Phedreus
Yes I do have knowledge of and experience with both the definition and implementation of Socialism. By definition, President Obama along with the current Congress, has finished what has been a slow decent towards Socialism by this country.
This country is a Socialist Nation. On the Cover of Newsweek several months back was a huge headline, “We are all Socialist Now” Now if you can’t trust Newsweek well I just don’t know what this world is coming to.
Originally posted by Phedreus
reply to post by buddhasystem
I am not sure how much clearer I can be. Please excuse the lack of source I missed it with the copy; however you didn’t seem to have much trouble recognizing it. By definition, The US is a Socialist Nation it meets all requirments to be deemed Socialist. . By actions the US meets the criteria of a Socilist State, I list just a few that markedly make the point.
The take over and controlling ownership of GM, takeover of GM union pension fund and its problems with underfunding of the plan to the tune of 55% , Nullification of preferred stock and bond rights under the terms of purchase of those bonds, Nullification of voting rights
Holding majority and minority shares in private financial institutions.
NEW YORK (CNNMoney.com) -- The federal government took its first step towards unloading its remaining stake in Citigroup, unveiling plans Monday to sell up to 1.5 billion shares in the banking giant.
The U.S. government currently owns approximately 7.7 billion shares, or about a 27% stake in the New York City-based bank. A sale of the 1.5 billion shares would cut the government's holdings to just under 22%. The sale of the 1.5 billion shares would likely generate a return for American taxpayers, based on where Citi stock has been trading recently.
Selling the stock at Friday's closing price of $4.86 would lead to a profit of approximately $2.4 billion. The government converted its preferred-share stake into common stock when Citi shares were hovering at $3.25.