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Dodd says “Short Term” nationalization is necessary

Senator Chris Dodd, head of the US Senate Banking Committee (who has not yet produced copies of his sweetheart mortgage deal with Countrywide Mortgage) says that “Short Term” Nationalization of Bank of America and CitiGroup may be necessary.  Bloomberg Story

Remember that once the government gives itself “temporary” powers, it never gives it back voluntarily.  US Treasury dictator Timothy Geithner will release details of this plan “next week”, unless of course he’s too busy saving the automobile industry.

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This entry was posted on Friday, February 20th, 2009 at 2:52 pm and is filed under Bankruptcy Watch, Financial Collapse, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Dodd says “Short Term” nationalization is necessary”

  1. gwilhelm56 says:
    February 20, 2009 at 9:19 pm

    LOL … last time Government said SHORT TERM was a luxury tax placed on Telephones to finance the Spanish American WAR… (1890’s) … the Short term was removed approx. 2002!!! Government DOES NOT relinquish power … unless it has to.

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