Whose Property Is It?

The Wall Street Journal wrote last weekend (“Citi Investors Face a Wait for Cash”) that

Citigroup executives have privately expressed doubt they can address the Fed’s concerns and persuade regulators to allow the bank to return more capital to shareholders this year, according to people familiar with the situation.”

Think what that means. Shareholders are the owners of the bank. The bank’s capital is their property. But in the land of the supposedly free, these owners need government bureaucrats to allow them to do as they see fit with their own property.

It’s offensive. It’s shameful how we Americans have allowed restrictions on economic liberty to grow and grow.

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