Thursday, 11 March 2010

Newsflash

"After 35 years in America, I never thought I would see this."  So wrote Stuart Varney, English-born Fox business correspondent in the Wall Street Journal on Saturday.  He was referring to the Obama administration's refusal to allow the payoff on a $1 billion TARP 'investment'.  As ex-GM chief Rick Waggoner found out, getting in bed with the U.S. government can result in severe injury.  Now it appears that the administration's agenda for banks is as clear:  Prohibit extrication from the puppet meisters, and watch out as they whittle control from private hands.  Tim Geithner warned of as much, telegraphing that bankers' heads may roll as he appeared on CBS's Face The Nation.  Watch for more power plays and governmental picking of winners and losers to gain momentum as the economy loses it.
 
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