What happens if BOA and CITI are nationalized?
Date: Fri, 02/20/2009 - 15:37
IF THAT HAPPENS.....WE ARE ALL SCREWED!!!! YOU CAN'T SETTLE WIT
IF THAT HAPPENS.....WE ARE ALL SCREWED!!!! YOU CAN'T SETTLE WITH THE GOVERNMENT!
I just commented on this on another thread. They will try to avo
I just commented on this on another thread. They will try to avoid a nationalization at all costs - The banks received bailout money (from our tax money), so they already have been partially nationalized, in a sense, even though the fed received stock.
Here's what I read:
"The government said it would conduct "stress tests" on ailing financial institutions ahead of any further capital injections and removal of "toxic" assets from their strained balance sheets."
So the removal of toxic assets may actually be beneficial to settling since they will try to get this off their books very quickly.
I fall into the category of people who think that should banks (
I fall into the category of people who think that should banks (some or all) become "nationalized", it won't be the end of the world, or of our country for that matter. The idea would be to dump the toxic assets, then sell back, to private investors, the assets of value. Clearly, it is a form of socialization (spreading the losses to everyone). I am not sure, at this point, we can let "the market" take care of itself. Either way, this country is in for a "gut check" in terms of lifestyle.
What if they file chapter 11
What if Citi and BoA file chapter 11? I think they should just go ahead and file that. They will just just wasting everyone's money if the gov keep pouring money on them.