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http://www.msnbc.msn.com/id/27094961/

White House considers bank ownership stakes

WASHINGTON - The Bush administration is considering taking ownership stakes in a number of U.S. banks to deal with a serious credit crisis.

The $700 billion rescue package passed by Congress last week allows the Treasury Department to inject fresh capital into financial institutions and get ownership shares in return.

The possibility of government ownership stakes in U.S. banks was also reported Thursday by The New York Times.

A decision to inject capital directly into financial institutions in return for ownership stakes would be similar to a plan announced earlier Wednesday by Britain.

Asked about the British approach, Treasury Secretary Henry Paulson did not reject the idea but said he did not want to speculate on which of the new powers would be employed.

"We have a broad range of authorities and tools," Paulson told reporters.
"We've emphasized the purchase of liquid assets, but we have a broad range of authorities. And I'm confident we have the authorities we need to work with going forward."

The government of British Prime Minister Gordon Brown had announced earlier in the day an $87.5 billion plan to partly nationalize major banks in a bid to shore up that country's financial sector.

Sen. Charles Schumer, D-N.Y., who has been pushing the government to take equity stakes in U.S. banks, said the British decision would provide a good test case for the United States.

Do we want the fedgov to have controlling interest in "private" banks
Get out the Alcoa hats.........read the entire article.......this has NWO stamped all over it! Nicely wrapped up into a "bail out" package, TPTB have opened the door to 1 world control of the fiat currencies...........

 

[wvsurvivalist]

I read about this earlier and there is still something I don't understand. What does it mean for the government to take "ownership stakes" in a private bank? Do they get x% of the banks stock and the government gets control of who the CEO etc is?

 

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In a effort to find just how the UK was "Nationalizing" it's banks......I stumbled on this:

New World Order: Global co-operation, nationalisation and state intervention - all in one day

http://news.scotsman.com/latestnews/-New-World-Order-.4573452.jp

"We have a broad range of authorities and tools," Paulson told reporters.
"We've emphasized the purchase of liquid assets, but we have a broad range of authorities. And I'm confident we have the authorities we need to work with going forward."

What concerns me is just what are these "broad range of authorities and tools"..... so far no luck in figgerin' that out!!!