Friday, April 10, 2009

 

"First" of the Day: German bank to be nationalized

The German government moved closer on Thursday to nationalizing the troubled mortgage lender Hypo Real Estate Holding, saying it planned to buy all of the company’s outstanding shares.... A nationalization of the bank would be Germany's first such move since the 1930s. —David Jolly reporting in "Germany Offers to Buy Full Control of a Lender"

German Chancellor Angela Merkel, who has an ugly streak of neoliberalism in her character, is said to be experiencing headaches.

So when do we take ownership of the banks the public has already paid for in the U.S.?

Related posts
Shades of 1929 (9/15/07)
"First" of the Day (12/27/07)
British Treasury between a Rock and a hard place (1/15/08)
"First" of the Day: Britain nationalizes a bank (1/21/08)
Revolutionary Slogan of the Day (6/09/08)
The Depression Chronicles – 6: A plea from the IMF (12/31/08)

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