Archive for April, 2009
Of course, the government also now has stakes in many of the large banks, e.g. Citigroup (NYSE: C) and Bank of America (NYSE: BAC). Not to mention AIG (NYSE: AIG). Or Fannie and Freddie (NYSE: FNM, FRE). Who’s next, I wonder? What company or industry in dire straits will turn to the government for aid, in return for preferred stock or something similar?
Somehow I don’t think this is what they meant by the “Ownership Society.”
Disclosure: I hold no position, either long or short, in any stocks mentioned here.