Comments on: Paulson Endorses Plan To Buy Into Banks

Similar Move Employed During Great Depression; World Financial Leaders Meet On Global Crisis

[whatiknow2]

If the government owns and runs all of the banks, in the end it will be just like the post office.
The postal service is owned and run by the federal government, has government employees, who have great benifits and a wonderful retirment plan.
No banker will be getting rich off of other p[eoples money however the profits made will go toward bringing down interest rates for those who have loans.
Of course Big Brother will have his eyes and ears directly into every one of your banking activities, but they do now anyway.
I say let the government take the banks off of the greedy owners. I think the government should also own and run some factories. Every citizen should be able to buy a government made car at a lower cost. How about government built homes too?!?
Oh wait, I have just described 1960''s Russia.
NEVERMIND

[whatiknow2]

Yes please bail out all the Wall Street Investors who passed up oportunities to put their money in sound savings accounts at their local banks. After you return all the money to those who gambled in Wall Street, please bail out my uncle Fred who could not stay away from the race track any time he had a pay check. Please bail me out as I have trustingly purchased thousands of $$ worth of lottery tickets without ever winning. Don''t punish owners of banks who took the money and ran.

[voidmaster-2009]

Once the government owns the banks and all the rest of the financial market, the next step will be for it to take ownership of everything else.

[gtanswerman]

I heard the suggestion made to take the 700 billion (or some part of it) and create a new system of banks from scratch and issue a share to every citizen of the United States! This new bank or system of banks would be absolutely squeaky clean (no leverage). Also this new bank (or banks) would not only have plenty of funding to get started, their balance sheet would immediately attract new depositors. Additionally, banks with baggage would be allowed to fail, culling the herd, if you will. The remaining banks would get the message they had better get bank into the business of banking or get out of business entirely. Healthy banks would also find themselves with at least one banking partner with no hidden issues with which to deal with. Issuing the shares to everyone in the U.S. would not only restore confidence, it would keep the bank in private hands.

Any thoughts? Anyone care to expand on this idea?

[shortestfuse]

Why are we only getting "nonvoting shares" - seems to me if taxpayers are spending their money on bailing out these irresponsabile companies then we should have just as much say in how they''re regulated as anyone else.

[dbstevens]

Jeez...we better be vigilant and careful...the government owning our banks... this is scary. It''s hard not to have conspiracy theories...

[wardoglrs]

America to chicken to fight back?. The whole dam world is looking to the voter to see them vote in another Bush clone. Obama & McCain are the same to a tee...Think 3rd party and throw the bums out. They sold us all out

[lila356]

When will this government stop treating the people like idiots and tell us *** is going on. These secret
meetings are a joke. This is not a secret. It is our money and we have the right to watch these meetings.
Who is going to buy these bank stocks? And with what?

[staplesla]

I moved away from France to get away from Socialism. You Americans are letting your leaders tear everything apart and no one is doing anything about it.

[misha128-2009]

I would not have thought in my lifetime I would see the blatant mismanagement that is going on in my government. Truly disturbing.

This is a mistake.

The government couldn''''t manage from a regulatory standpoint (Frank, Dodd, etc.). What makes anyone thing it will improve under direct control?

Posted by payasyougo at 10:14 PM

Frank and Dodd are legislators not regulators. Bush and Paulson control the regulators that work in the executive branch that will manage this. It appears to be your mistake and possibly theirs too.

[misha128-2009]

We live in a town of appoximately 10,000 in central Illinois. I would like to know why our local Walmart is opening up a bank inside the front door of their building. I have never heard of this bank,(first letter starts with a W). ...

Posted by cattieJ at 11:26 PM

Senator McCain and his buddies effectively removed state regulation over national banks -- it''s called deregulation. McCain wants to do the same for Health insurance providers -- eliminating your state regulators from protecting you. When you are sick and the insurance company denies service would you prefer to contact someone in your state reporting to someone you had a say in electing or someone in another state reporting to someone you did not have a say in electing?

[cattiej]

We live in a town of appoximately 10,000 in central Illinois. I would like to know why our local Walmart is opening up a bank inside the front door of their building. I have never heard of this bank,(first letter starts with a W). We already have 11 banks here, we don''t need another one. Who would give this company the right to open up a bank in these finincially troubled times?? We must stop these companys form opening up so many banks. They outnumber our drug stores and our grocery stores. Let''s all boycott these Walmart banks. It is time to take a stand because Henry ain''t gonna help the commen man, he only helps the rich. Fuld, of Lehman company should be tarred and feather and run out of town on a rail. He should give back the 13 million dollars he was given (or gave himself) back in March.
He should be arrest for "cooking the books". Paulson, has helped himself and his friends and left America at the edge of another Great Depression. Take your money out of the banks before King Henry and King George get ahold of it.

[random_radar]

Remember Victor Kayam--the guy who liked the razor so much he bought the company?

Henry Paulsen liked being CEO of Goldman Sachs so much, he has decided to buy ALL the banks!

[payasyougo]

I would not have thought in my lifetime I would see the blatant mismanagement that is going on in my government. Truly disturbing.

This is a mistake.

The government couldn''t manage from a regulatory standpoint (Frank, Dodd, etc.). What makes anyone thing it will improve under direct control?