Monday, October 13, 2008

Banks - do we own them now?

"With the nationalization or part-nationalization of banks, does this mean that we, the people, now own the banks?"

"Of course not! The government has bailed out the banks, you silly billy!"

"But wait, if the government has infused funds into the banks, where did the money come from?"

"Why, the taxpayers, of course!"

"In which case, surely it is the taxpayers who own the banks?"

"Not on your life, you surely don't think the government is going to let you think you are a shareholder, do you?"

"Why ever not, aren't they supposed to be public servants, as in 'servants of the public'?"

"The government doesn't think like that. Anyway, soon the government will employ more people than all the private sector, so it will be self-serving."

"And what of the rest of us?"

"Consider moving somewhere else."