Bank of america home mortgage

In the United States, which depend on the state of the economy of almost all countries of the world, accidents continue to occur one after another. The situation poised on the brink of disaster. USA came to the threshold of a partial nationalization of the banking system.

Although this step is fierce debate and sharp rollback supporters of free market choice of the Obama administration does not seem to be.

Today, the U.S. banking system, there is general agreement, entered into a downward spiral into a tailspin. Normal lending process violation, the depositors withdraw money from banks. Save their accounts through an infusion of money the State, by the taxpayers. Especially the two largest banks: Citigroup and Bank of America. The situation is compounded by the fact that under the administration of Bush the state allowed razvorovyvanie huge funds in the allocation of the first (350 billion) of money on the «Plan Paulson», not udosuzhivshis establish a public bank for the concentration of «bad assets». 350 billion dollars uhnuli, as in abyss, has not improved the situation - but wait and allowing business managers and private shareholders banks rescued.

To this not happen again, it is necessary at least for the time to transmit both rescued the bank in the hands of the state. All logical: if the government gives the banks this money - it has the right to control the process. However, at the rear are Republicans and supporters of unfettered free enterprise. They say if the two above-nationalize the bank, the private investors will begin to leave the capital the next two largest U.S. banks - JPMorgan Chase and Wells Fargo, for fear that they and nationalizing. And that, say, only exacerbate the crisis.

In progress are the same stock arguments. Nationalization, they say, it is socialism, and the state - certainly less than effective manager, rather than private capital. As if the private owners have not brought the country to the brink of financial disaster complete. Especially against government interference in the economy lyutuyut Republicans, which were silent when such interference happened under Bush the Second. The irony: When the devastating crisis shook Asia in 1997-1998, the Americans shout severe to prevent all attempts tamoshnih governments to rescue problem banks and companies, asking not to disturb them broke.