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October 11, 2008
Oh goody. Now we're all going to own stock in banks
I regret to report that there are no Republicans or conservatives left in the executive branch of the United States government:
The federal government will buy stock in American banks for the first time since the Great Depression, Treasury Secretary Henry Paulson said Friday in the latest dramatic effort to reverse a global financial panic.
"This is a period like none of us has ever seen before," declared Paulson at a rare Friday evening news conference. He said the government program to buy stock in private U.S. financial firms will be open to a broad array of institutions, including banks, in an effort to help them raise desperately needed cash.
Does this mean we can all attend board meetings of any bank the Treasury Department invests in - all 120 million adults who pay taxes? I imagine it would get kind of crowded. Let's hope they put out enough chairs for everybody.
The question is well and truly asked; why resist Obama getting into office when we already have people in charge who make his policies look conservative?