'Once the Treasury has a voting stake, the bank might be pressured to tailor spending or financing decisions to suit partisan policies on the environment or labor issues, said Brown of Second Curve Capital. In recent years, environmental groups have attended Citigroups annual shareholder meeting to rail against financing for mountaintop strip mining.'
Another example from the same article:
'Any government investment in financial institutions raises the prospect of banks being ordered to focus on “state-approved social objectives” instead of increasing earnings, according to a report last week from the Committee on Capital Markets Regulation, a 25-member group of financial-industry executives, lawyers, consultants and academics.'
Lawmakers know that the prospect of less capitalism and more government reliance is a goldmine politically. It guarantees reelection, guarantees positions of power in influencial committees, and guarantees an easy marketing platform. It also gives them another playing field that they have been so against all these years. The same companies that pay a kings ransom for taxes and employ the nations workers are now being controlled by those people. The same people that receive tax-payer money as a basis for their living are effectively taking the profit motive out of everything to promote their socialist and platform goals.
Karl Marx would indeed be proud...
