Friday, February 20, 2009

State Bank of America?

the markets have been beating already beleagured bank stocks on the fear of nationalisation.

http://www.nytimes.com/2009/02/21/business/economy/21bank.html?hp

The economist Nouriel Roubini aka Dr. Doom, who first predicted this recession thinks there is no alternative to nationalisation. he should know. banks cannot lend now - there is no money to lend. many regional banks are going broke.

also notice that Chris Dodd is already agreeing to the idea. this Dodd is a really slippery character. he took a lot of campaign money from investment banker-types and championed freddie-fannie all his life. he should be called Sentaor Eel. i think the obama people have already decided on nationalising and are preparing the grounds for this by these soundbites to their atlanticist pals in the NYT.

being america of course - they will not call it nationalisation, but something else. not to worry.the hope-messiah snake-oil salesman aka President O will find a way to sell this as what we have been waiting for.

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