The U.S. may partly nationalize banks! Okay, this is just scary. Perhaps necessary. What did the hell did the Republicans do to our country? And John McCain doesn't want to talk about the economy. I guess if you have 12 homes you have that luxury.

From the NYT:

 Quote:
WASHINGTON — Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials.

Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash directly into banks that request it. Such a move would quickly strengthen banks’ balance sheets and, officials hope, persuade them to resume lending. In return, the law gives the Treasury the right to take ownership positions in banks, including healthy ones.




This situation looks as if it's decorating rather than improving if we're talking about taking over the banks..