{"id":2300,"date":"2009-06-03T16:53:27","date_gmt":"2009-06-03T20:53:27","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=2300"},"modified":"2009-06-03T16:53:27","modified_gmt":"2009-06-03T20:53:27","slug":"were-healthy-banks-forced-forced-to-surrender-ownership-stakes-to-government","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2009\/06\/03\/were-healthy-banks-forced-forced-to-surrender-ownership-stakes-to-government\/","title":{"rendered":"Were Healthy Banks Forced Forced to Surrender Ownership Stakes to Government?"},"content":{"rendered":"

Were Healthy Banks Forced Forced to Surrender Ownership Stakes to Government? It’s question that needs to be answered… From reading this CNSNews.com piece<\/a> it would seem at least a few “healthy” banks were forced into surrendering ownership stakes to the government:<\/p>\n

Last October, then-Treasury Secretary Henry Paulson ordered nine banks that the Treasury Department described as “healthy” financial institutions to surrender ownership interests to the government or else face regulatory action that would force them to surrender ownership interests to the government, according to\u00a0an\u00a0internal Treasury Department document.<\/p>\n

Paulson’s extraordinary threat culminated in one of the most sweeping government intrusions into the free-enterprise system in the history of the United States.<\/p>\n

Judicial Watch, a nonpartisan watchdog organization, used the Freedom of Information Act to obtain a copy of the internal Treasury Department “talking points” that were prepared for Paulson to use at his Oct. 13, 2008 meeting with the chief executive officers (CEOs) of the nine banks.<\/p>\n

At the meeting–to which the bankers were called at short notice–Paulson made a conspicuous display of potential government regulatory power.<\/p>\n

Paulson was flanked by Federal Reserve Chairman Ben Bernanke; current Treasury Secretary Timothy Geithner (who was then president of the Federal Reserve Bank of New York); Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair and Comptroller of the Currency John C. Dugan.<\/p>\n

While none of these regulators have responded to inquiries by CNSNews.com, the talking points mention each by first name.<\/p><\/blockquote>\n

Putting aside for the problems associated with the Federal Government bailing out failing private enterprises… Government officials should not under any circumstances be forcing healthy institutions to surrender ownership stakes to the government. It wreaks of socialism!<\/p>\n","protected":false},"excerpt":{"rendered":"

Were Healthy Banks Forced Forced to Surrender Ownership Stakes to Government? It’s question that needs to be answered… From reading this CNSNews.com piece it would seem at least a few “healthy” banks were forced into surrendering ownership stakes to the government: Last October, then-Treasury Secretary Henry Paulson ordered nine banks that the Treasury Department described […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[26,7],"tags":[709,159,710,344,343,158,711,708,635,506,177],"class_list":{"0":"post-2300","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy","7":"category-politics","8":"tag-banks","9":"tag-ben-bernanke","10":"tag-comptroller-of-the-currency","11":"tag-fdic","12":"tag-federal-reserve","13":"tag-henry-paulson","14":"tag-john-c-dugan","15":"tag-sheila-bair","16":"tag-tarp","17":"tag-tim-geithner","18":"tag-treasury-department","19":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-B6","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":776,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/10\/15\/dick-armey-bush-plan-to-buy-bank-stocks-should-face-constitutional-challenge\/","url_meta":{"origin":2300,"position":0},"title":"Dick Armey: Bush Plan to Buy Bank Stocks Should Face Constitutional Challenge","author":"Jeff","date":"October 15, 2008","format":false,"excerpt":"Via CNSNews.com: Former House Majority Leader Dick Armey (R-Texas) said that the Bush administration\u2019s plan to buy $250 billion in stock in U.S. banks should be challenged in federal court as unconstitutional. \u201cI think that it is subject to a serious constitutional challenge,\u201d Armey said in a conference call with\u2026","rel":"","context":"In "Money & Investing"","block_context":{"text":"Money & Investing","link":"https:\/\/www.jasetaro.com\/blog\/category\/money-and-investing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":521,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/28\/bailout-deal-reached\/","url_meta":{"origin":2300,"position":1},"title":"Bailout Deal Reached?","author":"Jeff","date":"September 28, 2008","format":false,"excerpt":"The Wall Street Journal is reporting that lawmakers reached a tentative bailout deal overnight: Top U.S. policy makers emerged from hours of tense negotiations with a clear message just after midnight Sunday morning: A deal to bailout U.S. financial markets has been agreed on and all that remains to be\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":490,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/25\/bailing-on-the-bailout\/","url_meta":{"origin":2300,"position":2},"title":"Bailing on the Bailout?","author":"Jeff","date":"September 25, 2008","format":false,"excerpt":"It looks like the bailout deal, if there ever was one, is collapsing... Democrats and Paulson are whining. ABC News' George Stephanopoulos Reports: Treasury Secretary Henry Paulson fears the Wall Street bailout deal is falling apart after a chaotic White House meeting, sources say. Paulson walked into the room where\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1785,"url":"https:\/\/www.jasetaro.com\/blog\/2009\/03\/24\/obama-administration-seeks-broad-power-to-seize-firms\/","url_meta":{"origin":2300,"position":3},"title":"Obama Administration Seeks Broad Power to Seize Firms","author":"Jeff","date":"March 24, 2009","format":false,"excerpt":"This is rather frightening, the Obama administration is not only seeking broad power to regulate risk on Wall Street, they're also seeking the broad power to seize companies that the Treasury Department thinks may represent a risk to our economy if they fail: Treasury Secretary Timothy F. Geithner is set\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":532,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/29\/the-good-the-bad-and-the-ugly\/","url_meta":{"origin":2300,"position":4},"title":"The Good, The Bad and The Ugly…","author":"Jeff","date":"September 29, 2008","format":false,"excerpt":"The Good (H\/T: MM): Congressman Jeb Hensarling (R-TX), Chairman of the House Republican Study Committee, today issued the following statement on the agreement reached by House and Senate negotiators on the Paulson plan, and his intentions on the final bill: \u201cMy top responsibility as an elected official is to protect\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1049,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/11\/24\/here-we-go-again-feds-agree-to-citibank-bailout\/","url_meta":{"origin":2300,"position":5},"title":"Here We Go Again: Feds Agree to Citibank Bailout","author":"Jeff","date":"November 24, 2008","format":false,"excerpt":"From the Wall Street Journal: The federal government agreed Sunday to take unprecedented steps to stabilize Citigroup by moving to guarantee close to $300 billion in troubled assets weighing on the bank's books. Treasury has agreed to inject an additional $20 billion in capital into Citigroup under terms of the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2300","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=2300"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2300\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=2300"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=2300"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=2300"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}