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Thread: Now there is talk of nationalizing banks

  1. #11
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    Question for UB:
    If the feds take over the banks, are the stockholders SOL (forever)?
    Tom Dorroh

  2. #12
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    If they do what I posted on the last page then nothing happens to the common stockholders, Here is what it would mean:

    This government ownership of 40 percent may indicate what the future relationships of large banks and the government will look like. Instead of nationalizing the firms, the Treasury, Fed, or FDIC will take the lead in having de facto control of institutions like Citigroup and Bank of America (BAC). Common shareholders will still have stakes, but the roles of the boards that they elect will end up being largely ceremonial.,
    Winners train......losers complain.....

    Dan Lawler

  3. #13
    Senior Member Uncle Bill's Avatar
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    Quote Originally Posted by Thomas D View Post
    Question for UB:
    If the feds take over the banks, are the stockholders SOL (forever)?
    Depends on how the takeover is structured, but for the most part, they're toast.

    As I see the "talk-of-takeover" going, the Fed is looking at it as an "investment"...ie buying in to these banks with the understanding of complete control. If the current stockholders are allowed to participate, it will be a 'silent' partnership.

    Right now the Fed is giving Citi and BOA an anal exam that will pretty much determine what they will end up doing. I seriously doubt they will let them go the way of Lehman Bros; another case of being "too big to fail".

    What is so sickening in all of this is that regardless of how it plays out, we are moving this nation further into socialism. Do you think this 'printing press' bailout won't have it's penalties? Other than the obvious...huge inflation...how will we be able to place trust in our banking system again? What's to stop them, and their Chris Dodd/Barney Frank led "regulators" to run the nation over the cliff again, knowing they are going to get bailed out when they have screwed up totally? If anyone thinks we can return to what we once had, you will go to your grave shaking your head in unbelievability.

    You don't have to go very far to see the history we are in the process of making...just read about Japan's current situation, and when it began. We are tracking their steps so closely it's frightening. And at the time they started their downward spiral, they had a population that had some savings, and they didn't have an entire global snafu to engage. Make no mistake in your thinking and planning. This is freedom's armageddon.

    To Thunder Dan,

    I do hold quite a bit of precious metals. Started accumulating it in the 70's. Sold a batch last year. It's my retirement fund. You mentioned on another thread you are looking to get back into the market at the 6500 level. Doubt it will hold there. I'm guessing it might not even hold at 5000. You view on American Eagles is OK, but right now they are selling at a pretty huge premium over spot. Might want to reconsider. I'm getting more bags of pre-65 silver coins. I think silver is a buy up to $20.

    Good luck,

    UB
    When the one you love becomes a memory, that memory becomes a treasure.

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