You can't be half pregnant

Why would the government want to convert their high-dividend yielding (and theoretically profitable, as they're financed with low-yield debt) preferred nonvoting shares in the banks into voting common stock?
At least Goldman wised up and is pulling out of this TRAP as quickly as they can. I can only foolishly hope that the rest of the banks who were forced to accept government money by Paulson and Bernanke will follow suit quickly, lest they become just another foot solider of the government forced into sodomizing itself at the whim of deranged puppetmasters who refuse to learn from history (or even yesterday's news) and care only about elevating their populist pulpit, even if they have to build it with soiled paper bricks and toxic mortar (see the Fannie Mae article from yeserday).

clipped from www.reuters.com Policymakers are considering an idea that the government change its existing holdings in the banks, which have taken the form of preferred shares -- non-voting stock that carries a fixed dividend -- into convertible preferred shares that could be converted into common stock, the paper said. Under this proposal, the shares would automatically convert into common equity if there was a decline in the bank's health, as measured by its tangible equity ratio, for example, the paper reported. The Obama administration is considering an expansion of the Federal Reserve's consumer-lending facility, known as the Term Asset-Backed-Securities Loan Facility (TALF) that could potentially buy up toxic assets clogging the system, the Wall Street Journal said, citing people familiar with the plans.