This WSJ report about the gummint nationalizing Citigroup
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When federal officials began pumping capital into U.S. banks last
October, few experts would have predicted that the government would
soon be wrestling with the possibility of taking voting control of
large financial institutions. The potential move at Citigroup would
give the government its biggest ownership of a financial-services
company since the September bailout of insurer American International
Group Inc., which left taxpayers with an 80% stake.
Under the scenario being considered, a substantial chunk of the $45
billion in preferred shares held by the government would convert into
common stock, people familiar with the matter said. The government
obtained those shares, equivalent to a 7.8% stake, in return for
pumping capital into Citigroup.
The move wouldn't cost taxpayers additional money, but other
Citigroup shareholders would see their stock diluted. A larger
ownership stake by the government could fuel (could fuel?) speculation that other
troubled banks will line up for similar agreements
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[Salon's Glenn] Greenwald imagines that militias are again on the rise because Barack
Obama is "an exotic other occupying the White House" and because the
U.S. is a "declining imperial power," these things upsetting to
gun-owning, white folks, apparently.
Bill Clinton's election in 1992 gave rise to the American "militia
movement": hordes of overwhelmingly white, middle-aged men from
suburban and rural areas who convinced themselves they were defending
the American way of life from the "liberals" and "leftists" running the
country by dressing up in military costumes on weekends, wobbling
around together with guns, and play-acting the role of
patriot-warriors. Those theater groups -- the cultural precursor to
George Bush's prancing 2003 performance dressed in a fighter pilot
outfit on Mission Accomplished Day -- spawned the decade of the
so-called "Angry White Male," the movement behind the 1994 takeover of
the U.S. Congress by Newt Gingrich and his band of
federal-government-cursing, pseudo-revolutionary, play-acting tough
guys. [ The 1990s are back ... .]
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These guys fear constitutional
citizen militia like the French fear soap. Too bad there
aren't any militia in these parts, because I'd join one. At this
point I have no fantasy, no realistic
fantasy, about storming congress; I'm looking for an organized
resistance to the chaos these people are trying to throw us into.
Someone to defend against gummint thugs in the event Obama suspends
the constitution and declares a FEMA free-for-all. Or, against lawless scavengers on the order Mad Max faced if Obama's master plan
comes to full fruition.
Ha-ha. Just kidding. Everything will be just great. How about them Oscars?
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