From the Washington Post, via Huffington Post: U.S. Forces Nine Major Banks To Accept Partial Nationalization. This is a Republican President doing this. Were this Bill Clinton or Barack Obama, the wing nuts would be insanely up in arms.
Socialism: a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
Hey, I'm not saying this is a bad thing, but I do think that SOMEONE needs to explain it better to the American people. I mean, it sounds like something that happens in small South American Companies.. " they have Nationalized the banks......."
Maybe the part of that sentence that is so scary is FORCES. Also, and again, this is speaking from little or no knowledge, but, if the tax payers are buying into these banks to save Wallstreet ( biggest dow jump ever...) isn't this the people taking on all the losses and getting none of the pay-offs?