President Obama to use your money to take over banks
April 27, 2009 10:29am CST
President Obama made the statement that he wanted to switch the Governments Preferred Stock in Banks for Common Stock in the banks. So far the government has refused to allow the banks to buy back the the preferred stock that was purchased with TARP money. The agreement was that the Government would purchase the stock to help the blanks out and then the banks could buy the stock back and the Government would make a profit for the taxpayers. Now President Obama wants to convert the preferred Stock to Common Stock which gives the government control of the banks and financial institutions and more control over the economy. Just think if the Government controls the banks they can control who gets a loan and who does not. Think about it, Walmart is not Union Shop so Walmat has no line of Credit. Banks are ordered to go green so they no longer purchase Oil Stock for the customers IRA's. To help finance the Government programs they impose a higher management fee on IRA's and retirement accounts based on how much the account is earning, in effect limiting the account to a 5% growth rate with the government taking the rest of the money.(proposed by Speaker Pelosi) If you want a Home Loan you will have to agree to have the government monitor and control your heating and cooling. You want a car loan then you will have to pay interest based upon the government guidelines. Saturns will cost more than GM cars (non union vs union shop) and cars from Europe will be charged higher interest while cars from Mexico or Venezuela. Your credit card interest and annual fee could be based on your income rather than credit history.
1 person likes this
• United States
27 Apr 09
Welcome to Socialism 101 Bob. I notice you have a computer. As you purchased it with your own money, you must be taxed for obtaining a luxury without government authorization. Please be aware that future technology purchases will be managed by the department of purchasing. There they may assess your income and determine if you should be given a computer, or be required to purchase it with a 50% tax rate that will go towards making laptops available to the laz... I mean, less fortunate people who can not afford one.
• United States
28 Apr 09
The Banks have been officially Nationalized just like Chavez the nasty little man to the south that is supposed to be our enemy. Ha, he is Obama's friend. The bill to control the banking on the internet is already in committee soon to hit the floor of Congress where it will fly through and get passed at record speed just like the stimulus bill. So fast that no one has time to read the whole thing. But they will vote for it or else. This bill will control all online banking. Even if you do not bank online, your bank does. All ATMs do too. So if Obama says there is a problem with the banks, he can just shut down that part of the internet. Now think about it. If you pay your bills with billpay and it is that time, you bill will be late. If you have automatic deposit and it is that time, the money will be in never never land. Will it get lost? Will it be deposited later? Or will you never even get that money? You won't be able to use an ATM or a Debit or Credit card during the shutdown because they all work on the internet. You cannot write a check at most stores because the cashregisters do the check for you and that goes through the internet. Obama will be able to bring the whole United States to a standstill. Not me. I will go back to snail mail, stop my auto deposit and bill pay the day the bill hits the Congressional floor. I will keep a savings account to cash checks at and get money orders from but only at my credit union, not at a bank. I will never send another email and just use the internet to read and look stuff up with. And I will probably close my account here at the Lot, because I am sure that they will start looking into sites like this if they haven't already. Shalom~Adoniah