"Strong banks will be allowed to repay bail-out funds they received from the US government but only if such a move passes a test to determine whether it is in the national economic interest, a senior administration official has told the Financial Times." link
Now it turns out they want to exchange debt to equity. This is going from bad to worse...fast.
3 comments:
government control of private industry....where has that been tried before?......Hmmmmmm....
Some of these banks were FORCED to take the money by the way. They didn't want to take it but the government felt that if they didn't take it then there would be panic and maybe a run on the other banks so they took it.
So after doing "the right thing" the government now wants to tell them how to run their companies so they want to give the money back. And of course Obama will take the money back IF it's in the best interest of the taxpayer.....And who determines if it's in the best interest of the taxpayer? Well that would be Obama....How convenient.
No no we don't want to control the banking industry, but we may HAVE to in order to save them from themselves and the "pitchforks" of course.....
Interesting.
wish someone would convert the debt that i have on my house to equity. that would be da bomb.
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