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Wake up people! Owning a part of the major banks in America is not a bad thing. We could make a profit while solving a problem.
The free market purists' objection to this is that it smacks at government control of the banking industry, which is called nationalization. They are correct. It smacks, but it is not nationalization because that would require the government to own at least 51 percent of the entity for an indefinite period of time.
The ownership by the taxpayers is going to be relatively small and nowhere near the amount needed to be called nationalization. So what’s the problem?
Unprecedented problems require unprecedented solutions. The actions by the Treasury are a win-win for the taxpayer. But the mainstream media does not get brownie points for reporting win-win solutions for the taxpayers. Their focus is doom and gloom.
These actions by the Treasury, the Federal Reserve Bank and the actions by the Federal Depositors Insurance Corporation (FDIC) are all intended to help solve an unprecedented financial crisis. Unlike steps taken prior to and during the Great Depression, these actions have a high probability of success.
Originally posted by TheWalkingFox
reply to post by kellynap43
A billionaire has very little grasp on the day to day realities of the majority of Americans who lack the freedom that being a billionaire grants. Herman Cain is not having to work two jobs to pay rent and feed his kids. he can sit at home and watch porn, and be making a hundred thousand dollars an hour doing so.
Second, the only thing he's guaranteed to know about money is that it can pay for said porn. See, rich people hire people to handle their finances. Sort of like how one of us might hire someone to fix their roof.
Third, business operates by cutting every single corner possible, shorting its employees at every place, and abusing the local community in an effort to make a fast profit, with the assumption that the business will fail, so you might as well squeeze all you can out of it. The United States is not a business. The government should not have a profit motive. Citizens are not to be viewed as expendable, interchangeable potential customers / potential labor. In short, we do not need to be run like a business, and anyone who believe we should be is either a sociopath or is utterly, stupidly ignorant of how business works.
Originally posted by Rockdisjoint
I keep reading these old articles written by Herman Cain and they are soooooo funny, because he's sooooooo stoopid(sic).
Originally posted by redrose123
reply to post by GeorgiaGirl
Sounds like you have bought into the MSM propaganda machine. Do you honestly believe that anyone with the insiders backing him and him being in charge of the largest Federal Reserve in the US (Kansaas City) got there by hard work alone? He is a NWO crony and believes in Globalism all the way.