Call it tinfoil, call it plain ol' curiosity, but now that the government owns your bank...

[Atman]

...don't they have a right audit and review accounts? Y'know, just like your bank does on a regular basis, only without the government involved. Just curious, really. I don't know how this will all work, but I think it's a logical question; "If the government in effect owns a significant share of any business, bank or otherwise, wouldn't it then, as a shareholder, have access to information it wouldn't otherwise have access to without a court order?"

Just curious.

.

[Phred42]

1. GOod catch

:yoiks:

[OwnedByFerrets]

2. They DONT own the banks....they dont even have a majority

stake in the stocks....wish they did, but they dont.

[TechBear_Seattle]

5. It was my understanding that they have taken over oversight of several large banks

Which has given the government effective control through regulatory means, not by virtue of having "bought" anything. Is that information incorrect?

[TechBear_Seattle]

3. I just asked our company's head lawyer that very question

He winced and said that if the government followed prudent business practices, they not only can perform an audit, it is expected that they do so, and make copious notes. Remember, several large banks were effectively nationalized (why sugar coat the truth?) to save them (and, in theory, the US economy) from massive bad debt. The first order of business is to go over all the accounts with a fine tooth comb and identify which debts are still good, which have gone into default but can be recovered, and which have to be written off.

So yes: what would have required a warrant last week can now be done with no judicial oversight whatsoever with regards to the banks that have been bought up by the US government.

Mission accomplished.

[Atman]

8. That's what I kind of figured. Thanks.

I think. :shrug:

.

[napi21]

4. I don't think so. Being a stockholder in a business, no matter what business it is,

doesn't give you the right to access "insider information". I would think, the people who SHOULD be concerned about a sizeable gov't stake in a bank should be the senior management of those banks. Congress has already been talking about putting a stop to excessive executive compensation packages, and stockholders CAN influence THAT!

[peace13]

6. Don't worry, the 'Patriot ' Act took care of that long ago.

I opened a new business account last week and it took an hour and a half to get most of the transaction completed. I had to go back to the office and copy more information and return to the bank. The government is all over your banking at this point. You know, we have to keep an eye out for terrorists and their money.

[conspirator]

7. No. No. Rich people are all in the scam together

The oligarchies own both the banks and the government.
The government won't audit jack. And Banks will retribute financially with cash that they can stack in an offshore account.
Meanwhile the wage slaves have to keep working extra hours, for money printed out of thin air, and see their salaries buy only enough to keep them coming back next morning at 9:00pm until they drop dead.