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ForeclosureGate Could Force Bank Nationalization

For two years, politicians have danced around the nationalization issue, but ForeclosureGate may be the last straw. The megabanks are too big to fail, but they aren't too big to reorganize as federal institutions serving the public interest.

In January 2009, only a week into Obama's presidency, David Sanger reported in The New York Times that nationalizing the banks was being discussed. Privately, the Obama economic team was conceding that more taxpayer money was going to be needed to shore up the banks. When asked whether nationalization was a good idea, House Speaker Nancy Pelosi replied:

"Well, whatever you want to call it.... If we are strengthening them, then the American people should get some of the upside of that strengthening. Some people call that nationalization.

"I'm not talking about total ownership," she quickly cautioned - stopping herself by posing a question: "Would we have ever thought we would see the day when we'd be using that terminology? 'Nationalization of the banks?'"

Noted Matthew Rothschild in a March 2009 editorial:

[T]hat's the problem today. The word "nationalization" shuts off the debate. Never mind that Britain, facing the same crisis we are, just nationalized the Bank of Scotland. Never mind that Ronald Reagan himself considered such an option during a global banking crisis in the early 1980s.

Although nationalization sounds like socialism, it is actually what is supposed to happen under our capitalist system when a major bank goes bankrupt. The bank is put into receivership under the FDIC, which takes it over.

What fits the socialist label more, in fact, is the TARP bank bailout, sometimes called "welfare for the rich." The banks' losses and risks have been socialized, but the profits have not. The bankers have been feasting on our dime without sharing the spread.

http://www.truth-out.org/foreclosuregate-could-force-bank-na...



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This is what they

want everything will be under the US Corporation.
The agenda continues on schedule.

"We can see with our eyes, hear with our ears and feel with our touch, but we understand with our hearts."

Excellent article.

Thanks for posting. Good information.

The major question is

Who would be in control of the United States?

"We lease your land; we lease it all up!"

Ask the "realestate commissioned agents" the likes of Hillary and Obama, sky scrappers in New York training grounds, for treasonous "sales" of the "stewardship" of the lands.
I read somewhere that over 80% of our natural resources are "owned" (land use claims) by foreign entities.

“Dairy Farmers across the World have been enslaved and forced into a fascist system of monopoly and price control…lets support their long deserved Liberation!”
“The model of the future will be the delivery or the store on the farm.”
http://wholefoodusa.wordpress.com/2009/12/19/raw-milk-rally-...

And never forget, “Humans, despite our artistic pretensions, our sophistication and many accomplishments, owe the fact of our existence to a six-inch layer of topsoil and the fact that it rains.”