U.S. Lawmakers Clash Over Nationalizing Banks to Stem Declines
Feb. 21 (Bloomberg) -- U.S. Senate and House Democrats who steer financial-industry legislation clashed over having the government take over some banks as a way to help lenders that have been hammered by the worst economic slump in 75 years.
It seems that Senate Banking Committee Chairman Christopher Dodd is in favour of nationalizing the banks for "a short time", while Financial Services Committee Chairman Barney Frank, along with Republican Senator Jon Kyl rejected the idea.
Link to full Bloomberg Story
On a personal note, I was gently admonished by Fool.com yesterday for posting copyrighted material, and had a couple of my Peter Schiff blogs removed. That's too bad since based on the recs I received for them, they were quite popular. Now, receiving recs wasn't my motivation for reposting them here, but that was how I gauged interest in them. So for anyone reposting entire articles written by others (even if full credit is given to the originating author), it seems that Fool.com might be clamping down on that behaviour. Unfortunately, Euro Pacific Capital doesn't set up Peter Schiff's columns in a way that I can set up a link to them like I did here.
I e-mailed Fool.com back for some clarification as to what I can and can't do, but haven't heard back yet. I'm not trying to be antagonistic or anything, just making sure I stay within the rules, which I think is fair enough. I don't think they singled me out or anything (I doubt I'm that special), but at the same time, I'm pretty sure there are plenty of other copyright violations in the blogs here.
I will do my best to provide informative blogs, but probably will blog less in the future. Why? Frankly, I don't think I'm nearly as informative as some of the other bloggers here, such as TMFSinchy, TMFDeej, DemonDoug, goldminingXpert, or GoodVibe4Ever to name just a few.
Now, some of you might be sitting there reading this and saying, "but Jimmy, you're awesome. I mean, your rating here totally rocks so you must know what you're doing and I would love for you to impart more of your financial wisdom to help me in my monetary endevours."
Well, first off, thanks for the compliments (even though I'm the one that typed them so I'm pretty much talking myself up in a weird, self-congratulatory way, even if I'm being sarcastic), and secondly, my name isn't Jimmy. Seriously. Jimmy isn't even close. Also, I don't think my rating is fully reflective of my stock picking talents. In fact, I'm kind of stunned. It sure hasn't translated into real money.
So, I will do my best to provide blogs worth reading, but in all likelihood, I will have to use my wit and humour to do so rather than inciteful financial information. Basically I'm going to play to my strengths, until the inciteful financial information part is one of them.