The Gantt Report
When many of America’s major financial companies collapsed and stood to lose trillions of dollars the United States government stepped in and gave banks and insurance companies billions of dollars in stimulus money.
Citizens were told the stimulus was necessary because the poorly regulated, uninvestigated and greedy money moguls were too big to fail.
It was suggested that the international money changers could not go bankrupt or go out of business because of the harmful impact the world would experience as a result of worldwide investors, also known as beast bankers, losing all or most of the money they had risked on shady mortgage and other investments based on inappropriate, illegal or shady financial practices.
The United Sates President and the members of the United States Congress agreed to take money from American taxpayers and add it to money they borrowed from other nations like China, Russia and Saudi Arabia to give to banks and insurance companies so they could stay in business to continue to exploit their depositors and customers.
But that wasn’t the only thing that the government could have done. The government could have nationalized failing banks and insurance companies!
Nationalization refers to the process of a government taking control of a company or industry, which can occur for a variety of reasons. When nationalization occurs, the former owners of the companies may or may not be compensated for their loss in net worth and potential income.
In other words, “nationalization” was not a consideration because the American way, the capitalist way, necessitates that the rich must continue to get richer and the poor must always get poorer!
Nationalization is most common in developing countries subject to frequent leadership and regime changes. In these instances, nationalization is often a way for a government to expand its economic resources and power.
Now, the opposite of nationalization is privatization, when government-owned companies are spun off into the private business sector.
If you don’t know, the federal government, states and even cities set their friends up to take over government operations like prisons, schools, space programs and other stuff all of the time under the guise of cost cutting, more efficient “privatization”.
Nationalization that might help every citizen is bad but privatization that helps a few people with money make more money is very good and highly desirable. In the United States, true nationalization is a rare occurrence.
The last true nationalization of an industry was the government takeover of airport security after the September 11th tragedies in 2001. Prior to that, there were some selective nationalizations of savings and loan institutions in the early 1980s, as well as much of the railroad industry in the 1970s.
Recently, many have argued that the government takeover of a number of failing companies, such as GM and AIG, has also amounted to nationalization, even though the U.S. government exerts very little control over these companies.
Yes, politicians are tricky. They make you think the financial criminals and perpetrators are always victims and the people that lose their jobs, homes, businesses and standard of living are losers and idiots!
If the American people’s taxes are used to bail out trillion dollar companies, the people should have the power to control those companies and make the business decisions that are best for those same American citizens!
I may need glasses but that is the way I see it!
