Imagine, Wall Street, the financial capital of the World, the long and proud history of American Capitalism, falling prey to another group of special interest groups who want to put an end to this financial system by nationalizing it.I can't think of a worse scenario than this. We have worked our way out of every crises so far without sacrificing the basic principles of the free market. Bet you C, BAC, WFC and all other major banks would work their way through this crises if let alone or helped marginally. Those that can't manage, can go through BK. Let's do this the American way.
When IndyMac, Washington Mutual and other decrepit financial institutions were taken over by the FDIC during the Bush Administration and their shareholders lost their money, there was no talk of "nationalization". The FDIC, which insures depositors, was simply carrying out its duty according to law to protect the depositors and the insurance fund from further losses. It is time for the FDIC to move forward with its work at Citi and Bank of America.
you thnk our wisdom services exports will suffer? ROFLMFO. California, the final frontier. These are the voyages of the tampon ship, failed entereprise. Its 5 qaurter mission, to seek out new MBS buyers and boldly sell where no flattering liar has sold before. ROFLMFO.