Monday, April 20, 2009

Reality Sets In

As I was perusing business news online I happened across this article on the Wall Street Journal's website: http://online.wsj.com/article/SB124027087650836931.html

After reading something like that I guess we can really begin to see what the government actually intended to have happen with their "helping" of the banking sector. They weren't acting as benevolent saviors in a time of crisis.  Rather, Geithner and the rest of the Obama administration sought to wrest control away from the shareholders and the private sector in general with seemingly little intention of giving said control back. The idea that the "health of individual banks won't be the sole criterion for whether financial firms will be allowed to repay bailout funds" also snubs the American tax payers who were forced to provide the funds. For all the rhetoric assuring everyone that this money would be repaid, the government seems to loathe the possibility of actually get any of it back. 

 
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