Thursday, October 9, 2008
Ok new topic
Feel free to continue discussing the previous topic that we were settling on, I just wanted to inject something new into this debate. As of this morning, October 9, the U.S. government was strongly considering injecting so much money directly into some of the nation's largest failling banks that they would actually have a controlling share in these banks. Basically, the government would be in control of the largest financial institutions in the U.S. That doesn't really seem like an international business issue until you consider two things: first, that we are considering this because the British government just did something very similar with moderate success, and secondly, this would mean that , in a legal sense at least, the government would obtain even more vast control of the economy. Is this a good idea? Personally, I believe that it will take something drastic like this to get our economy off the floor and jumpstart our frozen bank lending situation. I've been watching Bloomberg today and some of their "experts" are going crazy over the idea, projecting real doomsday scenarios if the government does indded obtain majority shares in these banks. What do you think group?
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