As we know some analysts say it may be time for the solution everyone’s been trying to avoid, Nationalization..Full Story
Why must we even bother to nationalize them? If the BIG banks can manage to merge with others on the scale of Bank Of America (BAC) and Citi Bank (C), then it means they can be taken over in liquidation by another bank. This bogus concept that they are all too big to fail is the first mistake. Keep the healthy banks, let the others fail and if the stock or bond holders take a hit, oh well, that’s the risk of investing. I have taken losses in the past from a bank failure (last year). Do I like it? Hell No, But you know what, I am a trader and a long term investor so risk is a major part of the process. Geithner’s Financial Stability Plan is a joke. There is NO plan, there is NO fix. Hey Timmy! How about this! Let the markets work! Let your crooked/criminal banker buddies go belly up like they deserve. Stop your protecting of the ultra-rich in this country from their own stupidity. You are part of the problem! Not the solution! You watched this all implode as the head of the New York Fed.
Wasn’t this tax cheater hailed as the St. Financial Savior?
