Buying Banks!
It looks as if the U.S. Government is getting into the banking business again. The U.S. Treasury Secretary Henry Paulson said Friday that they would be purchasing stock in financial institutions. This move is to free up cash and give these banks a good source of lending power. This is all part of the move of the $700 billion measure Congress passed last week. And this type of move isn’t the first time the U.S. Government has done this. The last time it was done was during the Great Depression. So know we all know how bad things are. Hopefully this will also stop the decline with the Dow, which has dropped 40 percent in a year. I would also like to add that if this doesn’t work I’m going to invest in energy pills, because this is what we’ll all be eating to stay alive. Like most Americans out there, we’ve all seen our money fly away in our 401k’s and stocks. Food and basic things will be hard for all of us to buy if we fall into another Great Depression. I will be hoping for the best, that this new plan works, once again.
