Say Anything Blog

It is in everything but name via the Fed already, no?

But I agree; let’s bring back free, Constitutional money, and free, Constitutional banking.

Is The Fed’s Bank Bailout A Path To Nationalizing The Financial Industry?

I’d say further down the path, but yes, all monies will be “controlled"…

Let’s not forget what freedom to innovate in the financial markets has meant to the mortgage industry.

People like me have save thousands of dollars by wisely taking advantage of great rates. 

Future innovation will likely be impossible leading to us all being poorer. 

Of course nobody will be smart enough to blame those at fault in the government.

What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.

… creating a new government entity to nationalize troubled institutions.

Um, hello? What do you think the ‘F’ in ‘FDIC’ (as in “FDIC insured institution") stands for? “Frank?” “Flippy?”

The FDIC ("Federal Deposit Insurance Corporation") is already a government entity designed to bail out troubled banking institutions. It’s been around for a while. It’s predecessor, the Federal Savings and Loan Insurance Corporation (FSLIC) almost completely reorganized the S&L sector of our banking industry back in the late 80’s and early 90’s.

Banks and banking institutions have been effectively federalized since the invention of the Federal Reserve Bank. And it is in the best interest of the Federal Government to make sure the banking sector remains well regulated in order to assure a modicum of stability, since for psychological reasons, if people stop trusting their banking institutions, you may very well see a complete collapse of the economy.