Ed Driscoll

Feds Become Largest Shareholder In Bank Of America

Currently up on the Drudge Report is the headline, “BANK OWNED BY AMERICA; FEDS BECOME LARGEST SHAREHOLDER.”

Talk about burying the lede–Drudge’s headline is real story of this article from the New York Times’ spinoff the International Herald Tribune. Which is why, naturally, it’s buried five paragraphs in.

But as Frank Martin wrote last month:

This is how it ends. As of right now, the Senate IS the banking system. You just try prying the banking system from the hands of the Senate now. You want a loan? Sure, lets just check your voting record, lets see what kind of car you want to buy, oh darn its not a certified government “greenmobile”, well sorry Mr. Consumer, we cant give you a loan for that new Toyota Dual Axle truck for your ranch, but how about a new Chevy Cobalt Hybrid? Sure thing. Sign right here Mr. Consumer.

SNAP! That’s just how easy it is for you to find that you no longer have any economic choices. No banks – then no bank loans. No bank loans – then no economy. In point of fact, your entire economy is now run by just 100 people. 100 people that if most of us were in an elevator and any one of them got on, we would then get off and walk up the rest of the building rather than risk our well being by exposed to their close proximity.

Or as I asked last month:


And for some other video looks on how we got here, click here and here.

Update: Am I blue? You’ll be, too:

Wall Street Journal’s Environmental Capital Blog mentions a new buzz word in energy policy discussions–blue jobs–jobs associated with oil and natural gas industries. The industry is pushing to keep the oil and natural gas energy relevant in America’s discussion of energy policy to force policy makers to keep them in mind in the formulating of new policies and programs. The gas lobby wants to keep “blue jobs” in demand, jobs that total 5.8 million nationwide–in both direct and (sometimes very) indirect jobs that the gas lobby says are dependent on natural-gas related activities.

In today’s “POR economy” (centrally planned to perfection and/or perdition by the bluest of the Blue Staters, Pelosi, Obama, and Reid) aren’t all jobs blue jobs?