Saturday, February 21, 2009

times are changing.

According to today's Wall Street Journal the owners of the US banks are very frightened that the major banks here in the US may be nationalized. The population hate them for the destruction they did to the economy, they have further squandered the bail out money they were given, now they are wanting more. And the government has no confidence that if they give them more this too will not be squandered. In this situation the government is considering the option of nationalizing the major banks, holding them for a while, trying to clean them up,  and then hoping to sell them back to the private sector again. 

This is a huge shift in the economic and political of the USA. It must be seen for this. Talk of nationalizing the US banks opens a pandora's box through which all other kind of ideas can develop. 

Sean.  

No comments: