Friday, October 10, 2008

And A Side Order Of Regions…

Treasury Secretary Henry Paulson has just announced Federal plans to acquire preferred stock in many of the nations still solvent financial institutions. This stock will consist of non-voting shares except in instances where the vote would directly affect the US Government as shareholders. Sources say that up to 300 billion dollars could be used from the 700 billion dollar bailout bill recently slammed through the Senate.

Coupled with the ownership options with insurance companies and mortgage lenders, the Federal Government now holds many Americans in near complete thrall, lock stock and empty barrel. Let's say you bought a home through Fannie Mae, insured it with AIG and do your banking with Regions. The Feds technically own about eighty percent of all that. Does this scare anyone but me?

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