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"This idea of nationalizing banks is not comfortable," said Sen. Lindsey Graham (R-SC). "But I think we've got so many toxic assets spread throughout the banking and financial community, throughout the world, that we're going to have to do something that no one ever envisioned a year ago, no one likes. To me, banking and housing are the root cause of this problem. I'm very much afraid any program to salvage the banks is going to require the government... I would not take off the idea of nationalizing the banks."
The remark prompted a bewildered smile of sorts from fellow panelist Maxine Waters (D-CA) who said, to no one in particular, "We have come a long way."
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Morons are everywhere. I need a weapon before the music stops.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
"This idea of nationalizing banks is not comfortable," said Sen. Lindsey Graham (R-SC). "But I think we've got so many toxic assets spread throughout the banking and financial community, throughout the world, that we're going to have to do something that no one ever envisioned a year ago, no one likes. To me, banking and housing are the root cause of this problem. I'm very much afraid any program to salvage the banks is going to require the government... I would not take off the idea of nationalizing the banks."
The remark prompted a bewildered smile of sorts from fellow panelist Maxine Waters (D-CA) who said, to no one in particular, "We have come a long way."
I saw the interviews also. I don't remember now if it was on this show or another where the idea of a "temporary nationalization" of the banks was brought up. Something i believe the Norwegians did. If it was only Temporary i think most people could go along with it.
I saw the interviews also. I don't remember now if it was on this show or another where the idea of a "temporary nationalization" of the banks was brought up. Something i believe the Norwegians did. If it was only Temporary i think most people could go along with it.
Sweden did it (it's called "the Swedish model"). They also pointed out that Japan's problem may have been that they moved too slow and took half-measures.
I know we all like to take sides on every issue, but the economic meltdown is just an epic fustercluck in partisan terms.
In terms of the stimulus bill, frinstance, not one man or woman on capitol hill ever wanted it not to pass. The Republicans DID want to vote against it and have it pass, of course.
Now we're talking about nationalization of the banks (temporary or not) for the first time in my long lifetime of watching this sort of thing. Hell, it was the GOP that first went down that road with Fannie, Freddie, and AIG.
When push comes to shove, nobody believes that capitalism is perpetually self-sustaining. That's worth remembering after all this has passed, assuming there's an after.
Sweden did it (it's called "the Swedish model"). They also pointed out that Japan's problem may have been that they moved too slow and took half-measures.
I know we all like to take sides on every issue, but the economic meltdown is just an epic fustercluck in partisan terms.
In terms of the stimulus bill, frinstance, not one man or woman on capitol hill ever wanted it not to pass. The Republicans DID want to vote against it and have it pass, of course.
Now we're talking about nationalization of the banks (temporary or not) for the first time in my long lifetime of watching this sort of thing. Hell, it was the GOP that first went down that road with Fannie, Freddie, and AIG.
When push comes to shove, nobody believes that capitalism is perpetually self-sustaining. That's worth remembering after all this has passed, assuming there's an after.
Desperate times call for desperate measures. I've lived through The gas crisis,the Meat crisis (bacon went from 79 cents to almost $3.00 in what seemed a couple of days) another gas crisis ,a sugar crisis numerous recessions (the only one that affected me was 1990-91. And at the begining of this it was yawn another recession. But its obviously not,i still haven't been affected by it but i see the job loss numbers and the Dow.
As far a Capitalism goes i find it ironic that the fall of Communism it was an abuse of power, with Capitalism its an excess of greed. With Communism it was total power that totally corrupted the party leaders and lead to the stratification of classes. You had the ruling class and the working class.In the begining everyone was supposse to be equal but once the ruling class became corrupt that didn't happen
With Capitalism its Greed that has lead us to where we are. But with Capitalism checks or regulations can be put into place to limit the greed, to reduce the risk of capitalism running amuck. Like what has happened. Capitalism is young all the kinks haven't been worked out yet imo.
It's pretty interesting that their stratification of classes based on political "access" filled the niche in our country that we already tolerate based on social inequality. What we can't take is the wheels coming off the whole thing. (Though it doesn't mean we won't vote against it hoping that more people vote for it.)
Nationalizing banks should be on the table
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