lindsey graham on nationalizing the banks

Discussion in 'Economy' started by wimpy77, Feb 16, 2009.

  1. wimpy77
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    wimpy77 Member

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    "This Week with George Stephanopolous" today:

    "Yes, this idea of nationalizing banks is not comfortable, but I think we have gotten 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, but, to me, banking and housing are the root cause of this problem. And I'm very much afraid that any program to salvage the bank is going to require the government. ..."

    Stephanopolous interrupted to ask what he would do now, and Graham replied: "I would not take off the idea of nationalizing the banks."

    Later Chuck Schumer, tacking to Graham's right, cautioned:

    "Let me just say this. George Bush, a very conservative president, had more government intervention in the financial system than any president in history. But I would not be for nationalizing. I think government's not good at making these decisions as to who gets loans and how this happens."
     
  2. Care4all
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    Care4all Warrior Princess Supporting Member

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    I'm not certain how i feel about this....i guess i would need more info on exactly how it would all work?
     
  3. wimpy77
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    wimpy77 Member

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    i think they should do everything possible to avoid it first.
     
  4. Toro
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    Toro Diamond Member

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    I watched him say it and had to double check that it was Graham.

    I would rather the banks not be nationalized unless we have to.

    Here is a reason why nationalization should at least be an option.

    [​IMG]

    The projected losses of the banks are larger than the equity value, i.e. they are worthless now.

    EconomPic: $500 Billion Sinkhole

    I'm not sure if the loss projections are correct - they look overstated to me. However, if this is accurate, we could save a lot of pain and nationalize now and begin the healing process.
     
  5. xsited1
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    xsited1 Agent P

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    :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
     
  6. eots
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    eots no fly list

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    the government will own the banks very soon...remember you heard it here first so I can say I told you so...welcome to the.... new world order
     
    Last edited: Feb 16, 2009
  7. manu1959
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    manu1959 Left Coast Isolationist

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    most of the rest of the world is already nationalized ..... and the propeller beany crowd think the fed bank and world bank already run the government.... so isn't this just admitting what we have all been doing all along.......
     
  8. eots
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    eots no fly list

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    yes the new world order is putting their elite socialist agenda right out front..putting it in full gear..and going for it ... A one world banking and monetary system under U.N control
     
  9. Toro
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    Toro Diamond Member

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    BTW, on the same program, Maxine Waters said we shouldn't nationalize the banks.

    What an upside down world we live in.
     
  10. manu1959
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    manu1959 Left Coast Isolationist

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    un control.......dudes in bright blue fighting a war......yea that is a crowd i want in control.....
     

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