“No Real Recovery”
Nationlization of banks?
What are your thoughts on this whole nationalization thing that's going on with some of our nations banks? Is it really a good idea to have Uncle Sam in charge of B of A? I know these banks are struggling right now, and they do need help, but I don't think the government running them is really the right choice.
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“No Real Recovery” |
“No Real Recovery” |
Wise words, really.I like
Wise words, really.I like them, despite some are a bit contradictive. Hope cheap essay will bring the highlight for me. Thanx.
In the eloquent words of
In the eloquent words of William J.H. Boetcker:
* You cannot bring about prosperity by discouraging thrift.
* You cannot strengthen the weak by weakening the strong.
* You cannot help little men by tearing down big men.
* You cannot lift the wage earner by pulling down the wage payer.
* You cannot help the poor by destroying the rich.
* You cannot establish sound security on borrowed money.
* You cannot further the brotherhood of man by inciting class hatred.
* You cannot keep out of trouble by spending more than you earn.
* You cannot build character and courage by destroying men's initiative and independence.
* And you cannot help men permanently by doing for them what they can and should do for themselves.
My biggest issue with the
My biggest issue with the nationalization of some of the big banks is for the shareholders. As we've seen in the markets over the past week, people have been selling off their Bank of America and Citi shares as if they caused cancer! My goodness - Citi is trading below $2.50 a share! Less than a year ago it was trading at $26.60! So much value has been wiped out from these banks in the past 6 months that I can hardly grasp it.
What is going to happen to the poor shareholders of Bank of America if nationalization does occur? The dilution that will occur, if not the total wipeout of value will further demoralize the country - not improve things.