Relevant:
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- The Fed Has Spoken: No Bailout for Main Street
- German State-Owned Banks on Verge of Collapse
- Bernanke Rejects Bailing Out State and Local Governments; A Look at Meredith Whitney's Municipal Bond Call
- Another Bank Bailout Under Cover of a Virus | Ellen Brown
2011-02-17 — huffingtonpost.com
``Responding to an unfilled need for credit for local government, local businesses and consumers, three states in the last month -- Oregon, Washington and Maryland -- have introduced bills for state-owned banks, joining Illinois, Virginia, Massachusetts and Hawaii... By consolidating their assets into their own state-owned banks, state and local governments can leverage their own funds to finance their own operations; and they can do this essentially interest-free, since they will own the bank and will get the interest back.''
Definitely much needed competition for the Fed and Wall Street, keeping in mind that giving the states effective power to print money and channel it to favored recipients must be closely monitored. Ultimately the people need sound money to be protected.
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Comments:
catherine at 21:17 2011-02-18 said:
ARE YOU BELIEVING nationalization yet???? :lol: :lol: :lol: they told you the people who used THAT WORD were crazy, right? what would you CALL THIS? they are now brave enough to USE THE WORDS IN YOUR FACE.................THEY want that evil, greedy profit that they were so mad we enjoyed :lol: :cry: :lol: :cry: :lol: :cry: ............IT IS THEIR MONEY (just ask them), all of it, even the hard work you do, THEY OWN IT NOW....... and people doing loans will just be the 'minor' clerks in the system, again when we only can offer ONE loan at ONE price, why will it matter where you go to (pay your light bill :roll: )...............they will all be the same milquetoast loans....... no skill at all.......... sad sad sad and you will be able to tell YOUR KIDS how it was done now..........since we aren't teaching history in our schools, (the teachers have other things on their minds) YOU WILL NOW BE ABLE TO DESCRIBE JUST HOW IT WAS DONE, WON'T YOU? sad and didn't have to happen, but they were so nice when they said they were going to CHANGE everything, weren't they? just going to get the bad LO's out of the business, right?????? :shock: this is the same way they are going to steal 401ks, if we take away the free pensions from unions, it isn't fair others saved THEIR OWN MONEY, is it??? :lol: :shock: once you really pay attention these guys are easy to understand....... Permalinkadd a comment | go to forum thread
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