"In return for its infusion of new money to bolster bank balance sheets, Treasury will get preferred shares paying a 5 percent return initially and warrants to purchase common shares, allowing taxpayers to benefit once the banks' recover. However, Treasury does not get any voting rights with its ownership stake and will not be able to have a say in choosing the bank's board of directors.
Treasury has also given the go-ahead for stronger banks to use the money it receives in the rescue program to acquire weaker banks, drawing criticism from those who say the government should not be financing the consolidation of the banking system _ in effect helping to choose winners and losers." huff pots
so I am educating myself. and I don't have time to write a lot, but I'm reading more about how everything is going to hell BUT, within this mayhem, any good news is great news, so they mention it when they might not have before-- they mention today that there was a slight increase in single-family home sales in sepember, assisted by so and so deal on new construction whatever, and of course that was before the worst of the crunch crunched but it got me back to this place- ok, everything slows down if not grinds to a halt. that means people stay where they are and make do. maybe they make do by stealing my truck (scrap metal on wheels), or maybe they realize that we've all got to pool our resources to pull ourselves out of this mess- what did Mark Twain say? "buy land, they're not making any more of it"
I'm thinking of a community garden. yes I know this is an absurd amount of work. I've been doing this kind of work on rental property for years now- might as well do it on a piece of my own land. but more than that- how are we going to start reshaping our vision of a healthy future? SOIL! nutrients in the soil. education of the children.
I really have to get back to work- more later
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