Showing posts with label Banks. Show all posts
Showing posts with label Banks. Show all posts

Tuesday, October 14, 2008

Nationalizing the Banks

I won't talk about energy. I will talk about the nationalization of banks. This move is huge. Nine big banks have $125 billion dollars. Bush wants $100 billion more. This move may be good or bad. Years ago, the government bought 80% of an Illinois bank. Our government lost $1 billion. Europe is performing this too. Yesterday, Europe risked $2.3 trillion dollars, and this money may not be enough. Democrats want $150 billion for later use. Everyone is complaining about this spending. Eunomia does not like the plan, and Paul Krugman does not like the management. It seems that everyone does not like the plan. President Bush is a bad President, and the plan has had difficulties. I think the plan is nice, though.