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Good points but once the .gov has it's hooks into the system you know as well as I do that they (like anyone else) aren't going to give up the control. This puts a huge amount of control in their hands, if even for a short time. They have control of a chunk of GNP and now working on the banking system which makes the rest a simple task to leverage.
I dunno even in the short term once it is done reversal is very improbable if not impossible.
I just don't think it'll get to the point to where there is no getting out of it. Several banks are already ready and waiting to payback large portions of the TARP funds. Believe it or not, the gov (Obama admin in particular) cares about the publicity. Unfortunately its not widely known that banks are improving over time and will not need the TARP funds further into the future. Its really only a matter of time before there will be no footholds for the nationalization movement to dig into.
I just don't think it'll get to the point to where there is no getting out of it. Several banks are already ready and waiting to payback large portions of the TARP funds. Believe it or not, the gov (Obama admin in particular) cares about the publicity. Unfortunately its not widely known that banks are improving over time and will not need the TARP funds further into the future. Its really only a matter of time before there will be no footholds for the nationalization movement to dig into.
I just hope the .gov accepts the money back, so far they have refused any attempts at any kind of repayment even in small amounts. So in effect they are using that as leverage to get in there and as long as that money is in their walls they can't say no...kinda.
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"I'll keep my money, guns and freedom. You can keep the "Change."
I just hope the .gov accepts the money back, so far they have refused any attempts at any kind of repayment even in small amounts. So in effect they are using that as leverage to get in there and as long as that money is in their walls they can't say no...kinda.
Agreed. The government cannot say no forever. They're not accepting the money now due to the stress tests and for the need to maintain capital as a reserve, but that wont last. It's not like we're going to be in a 3-4 year recession, which brings me back to my original stance: I'm really not worried. It's like the swine flu: both sides (private sector and .gov) are over reacting, but when the dust settles everything will run its course and things will reside.
This is going to be Russia #2 or maybe even worse. I hate that rich is now synonymous with evil. If it wasnt for the rich old men none of us would have a job. Can't wait to stand in for milk and bread.