I began the draft post below on October 14, 2008 but never published it because I kept putting it off and I was waiting to see how long it would take for action to happen. I’m quoting from my own original draft post below:

I’m guessing it’s going to take about four to six months for the first of these banks to file some type of lawsuit against the US Government and/or US Treasury regarding the forced quasi-nationalization of the banks. I suspect that part of the reason Paulson wanted “absolute authority” over decisions without “oversight or review by the court system” was because the logical and inevitable conclusion to this quasi nationalization of the banking system will end up at the Supreme Court at some point.

I’m not a lawyer so I can’t tell you what the underlying lawsuit will be but glancing at the Constitution, I can gather that there are some issues with the entire process.

Tonight, I gleamed this headline from Yahoo Finance. Investigators say Fed Threatened Bank CEO and there is this gem of information in the article:

The House Oversight and Government Reform Committee is investigating claims that top government officials, including then-Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke, urged Lewis to go through with the acquisition and not disclose to shareholders the details of Merrill Lynch’s deteriorating financial state.

The whole thing reeks of fraud, malfeasance and coercion by government officials but like in October through to today, no one seems to give a damn about the whole thing.   Too many people are too frightened of the unknowable consequences of doing anything different so we keep ramming square pegs into round holes and we all pretend nothing bad is happening.     As I write this post, the US Government effectively owns:  General Motors, AIG Insurance, and Citigroup.   God only knows what other things are lurking on either the Fed’s or US Government’s balance sheets.      Let me reiterate what I wrote in September 2008:

Worried about the market? Don’t be, because I’m going to explain to you the new world order that’s coming. First, industry will be broken down into a few major “hubs” where all citizens will enjoy the lifestyle they enjoy now in a slightly different manner. A few centralized quasi-free market quasi government entities will be setup as follows.

American Telecommunications, Inc. will control all telecommunications. With their preconfigured hookups to the NSA and other government agencies, you’ll rest assured that big brother will be watching over you to ensure your most willing participation and acceptance of the new world order.

American Banks of Americans will control all banking, lending, credit, mortgages, investing and provide direct feeds to the IRS to monitor all your transactions to ensure you comply with each and every law and keep you from doing any “evil” things with your money because it’s not really your money it’s the government’s money.

American Consolidated Motors will sell all vehicles which will be sold on a consolidated basis to squeeze the most money out of your pocketbook by working with American Oil & Energy to optimize both industries.

American Oil & Energy will control all gasoline, natural gas and diesel distribution and sales along with providing you with the electricity that goes into your home. Convenient “monitoring” systems will be installed to ensure your “compliance” with the deemed appropriate usage and prevent any type of subterfuge.

American Pharmaceutics will control all medicine distribution to ensure your safety and compliance with all “American” based programs. All your medical information will be kept in a centralized database to ensure complaince with all government mandated medical programs.

American Phlights will control all air travel which will be subject to extreme security measures which will require a review of your American Telecommunication, American Pharmaceutics and American Bank of Americans accounts.

American Phoods will control all crops, beef, poultry, and other food stuffs for all Americans which will all be injected with growth hormones, antibiotics and other additives deemed lucrative to some quasi-government agencies.

American Insurance will control and issue all insurance & claims ensuring the bare minimum is paid out whenever possible.

You will no longer receive a paycheck and 401k, IRA and other similar accounts will no longer be necessary, those account will be transferred over to American Bank of Americans and distributed to other American entities to pay for all the goods and services you will receive.

All that is required from you, the citizen, is complacent obedience and everything will be taken care of for you.