--- On Thu, 2/19/09, John Lee <[log in to unmask]> wrote:

ON CSPAN this AM, they interviewed some Treasury dept. officials, and they 
said matter of factly that nationalizing a bank, or any business, is a bad 
idea.  They're looking at bringing insolvent ones into receivorship, as the

FDIC has done for decades,  sell off the assests and close the bank.  I 
think it's the media who uses the "nationalize" term which at
least these officials said is not nor has never been the plan.

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Being a "bad idea" has never stopped the government before.   As they say, the road to h*ll is paved with good intentions.

http://thehill.com/leading-the-news/bank-nationalization-would-pose-hurdles-for-obama-2009-02-19.html

here is a snipet.
"There are people out there who think nationalization is the way to go,
and I think their getting a good audience right now," said Brian
Gardner of Keefe, Bruyette & Woods."

If you want to see a run on the banks, nationalize them.   Over night private credit unions would spring up across the country.  Membership would have minimums well beyond the middle class.

Ponsi schemes are only illegal for non-government entities, our government hates competition.

-Craig



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