Nationalisation

iVillage Member
Registered: 08-13-2008
Nationalisation
79
Sat, 10-11-2008 - 7:49pm

It is a word unthinkable at the time of my primary vote (8 January.) Mere mention of the word would produce an immediate rebuttal of nonsense - including by me - because it seemed incomprehensible that a nation so devoted to capitalist ways, with a pro-business government... would ever go near such a topic.


Well, here we are, madness has set in. Our government plans to partially nationalise some of our biggest banks in order to forestall financial collapse. I like the idea of an equity stake in these firms, given the enormity of the bill we are asked to pay.


I'm wondering though about the sheer scope of the word, how it is contrary to so much about our outlook. What are your thoughts about this stunning, incredible, surreal change in our economic system?


Discuss... nationalisation of our banks on whatever level you wish.


Full length fiction: worlds undone

"You have no power over my body..." ~ Anne Hutchinson

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iVillage Member
Registered: 04-02-2008
In reply to: llhaesa
Sun, 10-12-2008 - 9:31pm
Yes but when they started to securitze loans they didn't bother to review the assets.
iVillage Member
Registered: 03-26-2003
In reply to: llhaesa
Sun, 10-12-2008 - 9:34pm

>Aren't we heading back to that now?<


Not where I live. Yeah, we have a single toll road that goes to an airport, which is owned by the airport authority, and another that goes beyond that into Loudon, but other than that the roads around here are as free as the dirt road I grew up on.

The 3 Day

Sandy
iVillage Member
Registered: 03-26-2003
In reply to: llhaesa
Sun, 10-12-2008 - 9:36pm

>Yes but when they started to securitze loans they didn't bother to review the assets.

Sandy
iVillage Member
Registered: 04-02-2008
In reply to: llhaesa
Sun, 10-12-2008 - 9:40pm
Are you sure yours wasn't?
iVillage Member
Registered: 10-12-2008
In reply to: llhaesa
Sun, 10-12-2008 - 9:41pm
I don't know where you live, but tolls are becoming more and more common throughout the United States.

iVillage Member
Registered: 04-02-2008
In reply to: llhaesa
Sun, 10-12-2008 - 9:44pm
I hate toll roads.
iVillage Member
Registered: 03-26-2003
In reply to: llhaesa
Sun, 10-12-2008 - 10:01pm
A loan that is securitized is sold to another bank. Mine was most definitely NOT sold to another bank. First USA held it until I refinanced after paying on the loan for 3 years.

The 3 Day

Sandy
iVillage Member
Registered: 03-26-2003
In reply to: llhaesa
Sun, 10-12-2008 - 10:04pm

>I don't know where you live, but tolls are becoming more and more common throughout the United States.

Sandy
iVillage Member
Registered: 04-02-2008
In reply to: llhaesa
Sun, 10-12-2008 - 10:15pm

not necessarily sold to another bank, the bank you took the original loan with could still service it and you would not know and don't have to be told if it has been sold or put into a securitization.

iVillage Member
Registered: 09-26-2008
In reply to: llhaesa
Sun, 10-12-2008 - 10:16pm
They also supported slavery, but hey - no biggie....

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