Thread: Is there no end to this rabbit hole?

"The proposed resolution authority would allow the government to provide financial assistance to make loans to an institution, purchase its obligations or assets, assume or guarantee its liabilities and purchase an equity interest," he said.

I don't see the word "seize" anywhere in the proposal. FOX news likes to hyperbole things up, as any good yellow-journalist knows you should, but...yeah, nothing about seizing.

Until I see some kind of hard evidence that the government plans to nationalize innocent businesses, and not just editorializing from a CLEARLY biased source, shrieks of "evil socialist nightmare" seem a bit premature to me.

Now, as to whether the US government should be using tax dollars to prop up enormous institutions whose failure might jeopardize the US economy as a whole, well, that's a whole other complicated barrel of monkey worms.

I turned to topic..... sorry! Back to topic then:

So, this whole idea of assuming the banks is because if the senate were to pass a bill on taxing the bonuses it would affect the subsidiaries of the larger banks that took the bailout moneys, even if they, the subsidiaries, did not take the money.

The stinker to this new move is that all the moneys that have been privately invested in these banks will be worth "nothing". It's like they are throwing darts at failed idea and shouting out the score or next big idea for the economy.... the stock market jumps and they yell, then falls, and they throw another dart.

What say you all?

Originally Posted by JMS

The title says it all! How dare our government use this poor economy as an excuse to seize more and more power to its self! It is becoming so transparent day by day.Geithner Seeks Power to Seize Imperiled Firms - Presidential Politics | Political News - FOXNews.com

As Rahm Emanuel said:

"You don't ever want a crisis to go to waste; it's an opportunity to do important things that you would otherwise avoid..."

This rabbit's hole is full of rats. 2010 is the time to flush them out.

This is slightly O/T but Mr. Geithner had another stellar day today: Geithner sends dollar on roller-coaster ride

Way to go, comrades!