Wait, Obama is nationalizing banks now?
Oh my God, this is unbelievable. Even having predicted it, I’m fucking stunned that this could occur. Color me flabbergasted. “Spread the wealth,” really meant it in a textbook definition.
Here’s a quote if you don’t want to read the whole thing.
President Obama showed his hand this week when The New York Times wrote that he is considering converting the stock the government owns in our country’s banks from preferred stock, which it now holds, to common stock.
Alright, preferred to common, no big deal, right? Think again.
“Preferred” means that these stockholders get the first crack at dividends, but only common stockholders can actually vote on company management or policy. Now, by changing this fundamental element of the TARP plan, Obama will give Washington a voting majority among the common stockholders of these banks and other financial institutions. The almost 500 companies receiving TARP money will be, in effect, run by Washington.
So yeah, that’s brutal. Our Guvamint is taking measured steps towards running our economy. As with every socialist takeover in history, its framed as being for the good of the nation, even though several banks are asking to be let out from under the TARP umbrella that now resembles a shackle. Its now more possible than ever that our President is blocking this move so he has a bigger piece of the pie when the Guv’t Goons show up.
Remember, this is a body that ran Social Security into the ground, messed up a war in Vietnam, couldn’t help Katrina victims, and forced banks into so many bad mortgages, they caused the whole damn crisis they’re now using to usurp the balance of power in this nation. Anyone thinking this might work out for our benefit is in for a big fucking dystopian surprise.
Just like Rome, we’ll rot from the inside before any enemy will be strong enough to fell us. Nerobama? Any takers?
