Re: OT ~ THANK YOU President Obama

Bob Giddings wrote:
On Fri, 20 Feb 2009 16:42:01 -0500, bill horne <redydog@xxxxxxx>
wrote:

Bob Giddings wrote:
On Fri, 20 Feb 2009 13:56:23 -0500, bill horne <redydog@xxxxxxx>
wrote:

Bruce S wrote:

Actually, most of that was for me - I heard the claim on the radio and wanted to verify it for myself. Turned out to be true - over a 2000 loss since the election - all attributable to Barry.
And you can blame today on another fear-mongering Democrat.
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NEW YORK, Feb 20 (Reuters) - U.S. stocks extended a rout on Friday after a top U.S. senator confirmed the market's worse fears, saying it may be necessary to nationalize some banks, as the S&P 500 closed in on an almost 12-year low.

Senate Banking Committee Chairman Christopher Dodd said the nationalization of some banks could be needed "at least for a short time," according to a Bloomberg report.
...
"The nationalization question is what everybody is focused on right now. Whether Bank of America and Citi will be nationalized by the government for a period of time before they can privatize them again," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets in Baltimore.
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http://www.reuters.com/article/marketsNews/idCAN2028264320090220?rpc=44

You need to get out more.

Many, perhaps most, of the prominent people who want to
nationalize the banks are Republicans. Many Democrats remain
unconvinced, including the President. Here's a partial list of
those who have declared (some are financial blogs).

http://www.ritholtz.com/blog/2009/02/favoring-nationalization-are/

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For Nationalization:

Alan Greenspan
Gordon Brown, UK PM
Joseph Stiglitz
Paul Krugman
Alan S. Blinder, Princeton
Nassim Taleb
Nouriel Roubini
Greg Mankiw
J. Bradford DeLong
Elizabeth Warren, TARP Oversight Panel
Dennis Gartman
Chris Whalen
Josh Rosner
Jeff Matthews
John Mauldin
Jack McHugh
Bill King
Matthew Richardson
Dylan Ratigan (CNBC, Daily Beast)
Jesse Eisinger, Conde Nast Portfolio
Martin Wolf, FT
Aaron Task (Yahoo Tech Ticker)
Paul Kedrosky (Infectious Greed, CNBC)
Nicholas Kristof (New York Times)
Mark Gongloff (WSJ)
Richard Parker (Newsweek)
Michael Hirsh (Newsweek)
David Reilly (Bloomberg)
Paul Vigna (Dow Jones)
Henry Blodget (Silicon Alley)
Willem Buiter (FT)
Adam Posen (Peterson Institute for International Economics)
Jeff Macke
Sen. Lindsey Graham
House Speaker Nancy Pelosi
Todd Harrison
Calculated Risk (Preprivatize the Banks)
Karl Denninger
naked capitalism
Eddy Elfenbein (Crossing Wall Street)
Bronte Capital
Aaron Krowne Mortgage Lender Implode-O-Meter
Roger Ehrenberg, Information Arbitrage
Felix Salmon
Interfluidity (Nationalize Like Real Capitalists)
Urban Digs
Pelosi is not a Republican,so I have to wonder about some of the rest.

And those opposed:

Ben Bernanke
President Obama
Tim Geithner
Lawrence H. Summers
George Soros
Meredith Whitney, Oppenheimer
Deroy Murdock (NRO)
Larry Kudlow
James Cramer
Hale Stewart
Tyler Cowen
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It remains a Democrat initiative.
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If President Barack Obama, a Democrat, is inclined to nationalize the banks -- and the bank rescue plan outlined by Treasury Secretary Timothy Geithner leaves that question unanswered -- he may need greater support than the opposition party has shown so far in his young presidency.
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Bob, who is beginning to think it is the only way to straighten this
mess out.
The stock market disagreed with you.

Got to get it out of the hands of the people who
created it.
That can be done without putting it in the hands of the government. Punish those who created it instead of rewarding them.

Try to read what I said, and not what you wanted me to say.

And don't get hung up on "nationalization". The government is
not taking over the banks any longer than it takes to straighten
things out, break the thing into salable pieces, and pass them
into new hands.

Then put all your money into one of those banks and tell the government you waive the FDIC insurance.

That way you can PROVE you actually believe that.

This is what happens in bankruptcy. The stockholders are zeroed
out, the management is let go, and bank assets are passed on to a
new buyer. The proceeds, if any, are passed to lien holders.
Like the people bought the bank's debt. And the taxpayers who
underwrote the bailout money.

This is receivership. Nationalization would be if the government
took them over and kept them. No one is suggesting that. No one
will.

Will you post a few trillion dollars bond in case they renege?

But they WILL have to go into government custody for as long as
it takes to sell them. The taxpayers are, after all, the owners
of most of the senior debt.

Giddings, the closet Bolshevik.
LZ

Bob

.

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