"We are all Socialists now"
 

Well, at least in the banking sector.

Here are the highlights from the Dodd bill...

- Treasury (you and me) take an equity stake equal to the purchase price of the distressed assets

- If it's a private company, government takes senior debt position

- Oversight board managing the $700B. Made up of the chairmen of the Federal Reserve, FDIC, SEC and two corp execs.

- If CEO of banks take undue risks, the government can penalize their compensation

Frank is co-opting this into his plan and some form of it will come out on the other side after the negotiations with Paulson.

http://bloomberg.com/apps/news?pid=2...lRg&refer=home

news for you, amigo....everyone that took a subsidized student loan is a socialist.

Also, do your kids attend public schools?

Socialism rocks!

It was a joke. I was trying to paraphrase Nixon. I thought you of all people would have got it.

You and SU are really letting me down tonight.

I bet 8ballrollin' drives on interstate freeways and uses the United States Postal Service. That commie has no shame.

Frankly, Dodd's plan makes a whole lot more sense than anything else that has been drafted so far. It is akin to what the government did after the S&L crisis (and that actually worked pretty well).

I think Paulsen's plan may be a disaster.

I'm sorry for ruining your joke. I have no good excuse.

It really wasn't so much a joke as a reference to "We are all Keynesians now." (1971)

rotflmao!

well said.