Monday, October 27, 2008

It is starting to appear as if one of Treasury’s key rationales for the recapitalization program — namely, that it will cause banks to start lending again — is a fig leaf, Treasury’s version of the weapons of mass destruction.


  1. Anonymous1:18 PM

    That acquisition by PNC makes it the 4th largest bank in the U.S. Promote centralization until there are nothing but banks too big to fail.

    Chuckie K

  2. "there are nothing but banks too big to fail."

    yes, private finance capital will enjoy all the privileges of nationalised banks, with the treasury insuring and underwriting them, the population assuming all the risk, but retain all the benefits of private capital and private profit.

  3. It really is Fascism 3.0, but if you call it that you sound like a free market ideologue who thinks poor citibank's fitty individualist shareholders are being oppressed by guvinment.