Dodd: Temporary Bank Nationalization Could Be in the Works
As the finance industry continues to flail and bank lending remains flat, Bloomberg reports that Sen.Christopher Dodd (D-Conn.), chairman of the Senate Banking
Jul 31, 2020682.2K Shares10M Views
As the finance industry continues to flail and bank lending remains flat, Bloomberg reports that Sen.Christopher Dodd (D-Conn.), chairman of the Senate Banking Committee, is floating the possibility that the government might have to take over the banks — at least for a time. Bloomberg reports:
“„“I don’t welcome that at all, but I could see how it’s possible it may happen,” Dodd said in an interview on Bloomberg Television’s “Political Capital with Al Hunt” to be broadcast later today. “I’m concerned that we may end up having to do that, at least for a short time.”
With the federal government already backingthe finance industry to the tune of more than $7 trillion, this is almost more of a semantic development than a practical one. That is, if the banks can’t survive without federal help, aren’t we already effectively nationalized?
Paolo Reyna
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Paolo Reyna is a writer and storyteller with a wide range of interests. He graduated from New York University with a Bachelor of Arts in Journalism and Media Studies.
Paolo enjoys writing about celebrity culture, gaming, visual arts, and events. He has a keen eye for trends in popular culture and an enthusiasm for exploring new ideas. Paolo's writing aims to inform and entertain while providing fresh perspectives on the topics that interest him most.
In his free time, he loves to travel, watch films, read books, and socialize with friends.
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