Honestly, it was only a matter of time. Did you know that Hugo Chavez seized four private banks within the last few weeks? And if he had it his way, he would have thrown all of the executives of those banks in jail in case they tried to leave the country. But Chavez has made it clear his intentions to take over the private banking sector in his country. As far back as 2005, Chavez wanted to put government representatives on the boards of private banks, and he wanted to mandate that workers had 20% representation in bank board rooms. That's Hugo. What about PrezBO? Do you think for a moment that this fascist isn't thinking of the same thing here?
But now Hugo has really stepped up his rhetoric. After seizing these four banks, here's what he had to say during a national broadcast: "To all the country's private bankers ... (I'm saying) he who slips up loses; I'll take over the bank, whatever its size ... You want me to nationalize the banks?" I have no problem with that because the banks don't want to extend credit to the poor, they don't comply, they don't want to comply with the bank's purpose for existence, and that is the law."
For Hugo Chavez, the private banking industry is only interesting in enriching a small group of people, when what it really should be doing is "[collecting] funds and savings to help aid the country's development by making loans, extending credits for housing." This sounds so much like the rhetoric of Slobbering Barney Frank, Charlie Rangel, Chris Dodd and other Democrats; including, of course, our president. Just yesterday we had Democrat politicians talking about ways to force financial institutions to lower mortgage payments for people in over their heads.
I wonder when this bank nationalization shoe drops in America.