{"id":1693,"date":"2009-04-20T16:22:00","date_gmt":"2009-04-20T20:22:00","guid":{"rendered":"http:\/\/stonescryout.org\/?p=1693"},"modified":"2009-04-20T16:22:00","modified_gmt":"2009-04-20T20:22:00","slug":"by-any-other-name-nationalizing-banks","status":"publish","type":"post","link":"https:\/\/stonescryout.org\/?p=1693","title":{"rendered":"By Any Other Name: Nationalizing Banks"},"content":{"rendered":"<p>Another step in the <a href=\"http:\/\/www.msnbc.msn.com\/id\/30300700\/\" target=\"_blank\">wrong direction<\/a>.<\/p>\n<blockquote>\n<p>In a significant shift, White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they had expected a few months ago, simply by converting the government\u2019s existing loans to the nation\u2019s 19 biggest banks into common stock.<\/p>\n<p>Converting those loans to common shares would turn the federal aid into available capital for a bank \u2014 and give the government a large ownership stake in return.<\/p>\n<p><a name=\"storyContinued\"><\/a><\/p>\n<p>While the option appears to be a quick and easy way to avoid a confrontation with Congressional leaders wary of putting more money into the banks, some critics would consider it a back door to nationalization, since the government could become the largest shareholder in several banks.<\/p>\n<\/blockquote>\n<p>Another writer, whom I read last week and can&#8217;t find the link to, noted that you don&#8217;t have to have full-blown government ownership of businesses to have what amounts to socialism; you just have to own the financial system that all those businesses get their financing from.&#160; Like I said before, if you don&#8217;t want to call it &quot;socialism&quot;, fair enough, but please don&#8217;t call it &quot;capitalism&quot;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Another step in the wrong direction. In a significant shift, White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they had expected a few months ago, simply by converting the government\u2019s existing loans to the nation\u2019s 19 biggest banks into common [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,15],"tags":[],"class_list":["post-1693","post","type-post","status-publish","format-standard","hentry","category-doug","category-economics-taxes"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/posts\/1693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1693"}],"version-history":[{"count":0,"href":"https:\/\/stonescryout.org\/index.php?rest_route=\/wp\/v2\/posts\/1693\/revisions"}],"wp:attachment":[{"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stonescryout.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}