October 12, 2008

FLASH: Here's a report on the UK part-nationalizing Halifax HBOS, Lloyds TSB, Royal Bank of Scotland and Barclays banks tonight

Rumors that the market over here might not open on Monday...

Stay tuned. The bank nationalizations are here.


And they said it could never happen.

Never say never.

Any guesses on who the nationalized US superbank survivors will be?




12 comments:

Dot.Hakers said...

How did they manage to shoot a video at Bank with only two people on sight..!???!

Batman said...

For sure GS and MS are part of the last ones standing. Well Fargo and Citi seem good candidates too.

Anonymous said...

Any guesses on who the nationalized US superbank survivors will be?
------------------------------------
Thats an easy one Keith. Just look at who gave the most bribes,,,,,err....campaign donations, to the Republican Party.

Conservatives say government can't work. But that is only when the Conservatives are in power. It worked fine when the Liberals were in charge.

Anonymous said...

Man, I never thought that I would believe in things like the 'Protocols of the Elders' but it looks like it's all coming true.

tinyurl.com/akts5

Everthing on the list seems to be coming true. WTF?

Anonymous said...

Just give it to the queen.

Anonymous said...

Is it time for the US to be a beggar

http://www.reuters.com/article/
asiaDealsNews/idUSTRE49B1YH20081012

Fed's Fisher: Open to all options to restore credit

The U.S. Federal Reserve will consider all options in seeking to stabilize credit markets in a period that may bring negative growth, Dallas Fed President Richard Fisher said on Sunday.

"The object is not to inflame a beggar-thy-neighbor policy," he said in response to a question after speaking at the Institute of International Finance.

"We know we cannot go it alone," he said.

Anonymous said...

"It worked fine when the Liberals were in charge."

No, in the labour socialists are in charge in Britian. Sold all the gold for cheap too.

doug said...

Glad I closed all of my put/ETF positions Friday. This'll be one crazy ride.

jim said...

"
Conservatives say government can't work. But that is only when the Conservatives are in power."


Please. They are not conservatives. They are neocon fascists.

Anonymous said...

Any guesses on who the nationalized US superbank survivors will be?
----------
Goldman Sachs!

Steve said...

Is John Law enjoying his stay in hell? The sooner his "offspring" join him, the better off we'll all be.

http://en.wikipedia.org/wiki/John_Law_(economist)

Adam Sloe Gin Smith said...

Nationalizing banks is not new: we've done it before, including nationalizing railroads, metal producers etc.

From:

http://www.iht.com/articles/2008/10/13/business/nationalize.php


In other countries, the government bank-investment programs are routinely called nationalization programs. But that is not likely in America, where nationalization is a word to avoid, given the cultural aversion to anything that hints of socialism.

"Putting this plan on the table makes a lot of sense, but you can't call it nationalization here," said Simon Johnson, an economist at the Massachusetts Institute of Technology's Sloan School of Management. "In France, it is fine, but not in the United States."

In times of war and national emergency, Washington has not hesitated. In 1917, the government seized the railroads to make sure goods, armaments and troops moved smoothly in the interests of national defense during World War I. Bondholders and stockholders were compensated, and railroads were returned to private ownership in 1920, after the war ended.

During World War II, Washington seized dozens of companies including railroads, coal mines and, briefly, the Montgomery Ward department store chain. In 1952, President Harry Truman seized 88 steel mills across the country, asserting that unyielding owners were determined to provoke an industry-wide strike that would cripple the Korean War effort. That forced nationalization did not last long, since the Supreme Court ruled the action an unconstitutional abuse of presidential power.