Bush Nationalizes Biggest U.S. Banks

Bush Nationalizes Biggest U.S. Banks

President George W. Bush announced an emergency $250 billion program to help the starving, homeless bankers of Citigroup Inc., Wells Fargo & Co., JPMorgan Chase & Sanborn, Bank of America, Morgan Stanley, and four banks to be named later (this will be a short post; we are forming NotionsCapital Bank and calling Secretary Paulson before the loot is gone).

The goverment will buy bank stocks but won’t be able to vote on the direction of these corporations; after all, bankers know best. Just look at the great way they’ve handled the capital and credit markets.

Don’t worry about where the money is coming from — it’s part of that $750 billion bailout rescue package you’ve been hearing about.

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com.

One Response to “Bush Nationalizes Biggest U.S. Banks”

  1. America's Corporate Board Room | Prose Before Hos Says:

    […] Also: Bush Nationalizes Biggest U.S. Banks, The Bailout and the Smell Test, Demonize the Nationalize, How to save banks and start trade wars, […]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: