26 September 2008

A Simple Question for Congress

Last time I checked, I live in a capitalist country.

In capitalist countries, when I spend money to buy part of a bank, what I get in return is shares in the bank.

Congress wants to spend $700 Billion of taxpayer money to buy some banks.

They say there's going to be a profit involved, which is why it's OK to use my money.

By my calculations, $700 Billion dollars divided by 350 Million people is $2,000 for each US citizen - including me.

So what I want to know is: how many shares of these banks am I buying for my $2,000?

And when is Congress going to send me my stock certificates?

(photo by missbeckles)


Blogger Lydia Fiedler said...

Well I believe you're about to live in a socialist country.

And lets not forget about the 7 trillion a few weeks ago.

How about they take the cash, send all of us a cool million, we can pay off all our debts and to hell with the banking industry? I'm about ready for gold ingots in the backyard at this point.


September 27, 2008 3:26 PM  
Anonymous Anonymous said...

In corporate law, a stock certificate is a legal document that certifies ownership of a specific number of stock shares in a corporation. In large corporations, buying shares does not always lead to a stock certificate in a case of a small number of shares purchased by a private individual, for instance.

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September 28, 2008 11:34 PM  
Blogger Bob said...

True, Stella, true. But in this case we'll be getting no certificates because we'll be getting no real ownership for our $700 Billion. We're not buying, we're just bailing.

September 28, 2008 11:37 PM  

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