Feds to might buy 40% of Citigroup
This is shocking but not a surprise. The US Gov was going in this direction.
U.S. Eyes Large Stake in Citi
Citigroup Inc. is in talks with federal officials that could result in the U.S. government substantially expanding its ownership of the struggling bank, according to people familiar with the situation.
While the discussions could fall apart, the government could wind up holding as much as 40% of Citigroup’s common stock. Bank executives hope the stake will be closer to 25%, these people said.
This crisis seems to be an excuse to have total governmnet control of the economy. This happened before, in Argentina. That didn’t turn out too well.
Tags: Citigroup, Marxism, News, Politics, Socialism
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on Sunday, February 22nd, 2009 at 10:38 pm and is filed under Economy.
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We're not easily offended and don't want people to think they have to walk on eggshells around here (like at another place that shall remain nameless) but of course, there is a limit to everything.
Play nice!
We will absorb everything financial until the revolt comes (in what ever form). Socialism only needs 51% on the dole to maintain the power base. This will increase that base, so it will be done.
I wonder how far back the plan goes.
I mean, the government started this problem in the 90’s, with the Democrat Controlled congress under Clinton. It grew and came to a head in 07-08 (oo, dem control again) and now here we are in 2009 with the government using our money (without our permission) to solve the problems it created by inserting itself further into our lives.
Why, again, did we fight the Revolutionary War a couple hundred years ago?
Now, I love W. for a lot of reasons, but I have to ask: Did W. tee this up for the socialists with his ‘compassionate conservative’ spending fiscal policy or what?