The largest power grab in the history of the USA-> 1
Submitted
by
Nurf
Nurf writes "The Treasury is set to execute a de-facto nationalization of the entire banking, insurance, and related financial system. Companies in those sectors don't have the right to choose not to be nationalized, and they have no recourse to the courts (nor do you if you lose money because of this). The cost to US citizens will be at least 2 Trillion dollars; there are no effective limit on losses. Also, all foreign bad debt can be funnelled through this system to be paid for by US citizens. All of this is happening to protect a few well-connected bankers who knew what risks they took. We'd be better off letting the system crash and using a few trillion dollars of new debt to make those on the street whole, rather than some investment bankers. Democrat and Republican politicians are falling over themselves to support the Treasury. Welcome to Fascist America."
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