As we develop plans to purchase equity, as in the approach we are taking to broad mortgage asset purchases, we are working to develop a standardized program that is open to a broad array of financial institutions. Such a program would be designed to encourage the raising of new private capital to complement public capital. Consistent with the legislation, any equity the government purchases through a broadly available equity program would be on a non-voting basis, except with respect to the market standard terms to protect our rights as investors.What the fuck? They are going to pump billions of dollars into banks, get stock in return and that stock is non-voting stock?
What sort of dumb-ass fucking chuckleheads do we have running the government? No large investor with any brains would buy non-voting stock; if you are going to put that much money into a business, if you are buying that large of a piece of the action, you for goddamn sure want a say in how the place is run. Can you imagine Walter Buffet or Kirk Kerkorian or T. Boone Pickens buying non-voting stock? I don't think so.
For that kind of cash, we ought to have a say.
1 comment:
What sort of dumb-ass fucking chuckleheads do we have running the government?
If we really knew the answer to that, we might, in fact, all have heart attacks.
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