Through out the history of our nation, since it?s founding in the fire of revolution in 1776, we have spent more time at war through either actual fighting or in proxy wars, than we have at peace.
We have fought wars against almost every major European power, including ones who are now our allies, such as Britain, France, Spain, Germany, Italy, as well as nations that are still not so friendly such as Russia.
America?s conflicts 1798 to 2004
Yesterday the Treasury announced that it would let 10 of the largest TARP recipient banks to start paying back as much as $68 Billion of the $200 Billion that was given out. While this is definitely a good sign we are not yet in the clear.
While the collapse of the U.S. banking system is no longer seen as an imminent danger, access to the capital markets remains difficult and bank balance sheets are clogged with troubled loans and other assets. Most of the nation’s 8,000 banks are being hammered by the recession, and the number of bank failures is expected to climb. The 10 banks seeking to return government money will be able to continue leaning on the U.S. government in other ways, including by issuing debt guaranteed by the Federal Deposit Insurance Corp.