Nationalize Banks

[RichC]

The Washington Post

Nationalize the Banks! We're all Swedes Now


The U.S. banking system is close to being insolvent, and unless we want to become like Japan in the 1990s -- or the United States in the 1930s -- the only way to save it is to nationalize it.

http://http://www.washingtonpost.com/wp-dyn/content/article/2009/02/12/AR2009021201602.html?sid=ST2009021502037





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CNN Money

Stocks At The Mercy Of Bank Nationalization Debate


February 21, 2009: 12:05 AM ET

U.S. stocks are likely to face choppy waters next week, as the debate about whether or not to nationalize banks intensifies along with growing investor demand to rid the financial system of its toxic assets.



http://money.cnn.com/news/newsfeeds/articles/djf500/200902210005DOWJONESDJONLINE000002_FORTUNE5.htm

[Hatterasguy]

Because Chris Dodd is a moron and said so much, and now its cost them billions.

[RichC]

Can you imagine the impact on the market as everyone tries to sell the bank stocks.

[TheDon]

Originally Posted by RichC

Can you imagine the impact on the market as everyone tries to sell the bank stocks.

banana's

[Emmerich]

The banking industry is anything but insolvent. If there was even a hint of that, every foreign (and domestic) investor would pull out INSTANTLY.

You might have individual banks sucking wind through bad management, but the system is sound. that said, the government has (had) created a lot of the problems by forcing banks into positions against sound logic and good business sense.

[RichC]

Originally Posted by Emmerich

The banking industry is anything but insolvent. If there was even a hint of that, every foreign (and domestic) investor would pull out INSTANTLY.

You might have individual banks sucking wind through bad management, but the system is sound. that said, the government has (had) created a lot of the problems by forcing banks into positions against sound logic and good business sense.

You should watch the peice done by Frontline on PBS about the current economic crissis.

We came extremely close to total banking meltdownn.

[ps2cho]

Well Comrade...Nationalize the banking system huh?

[Botnst]

Do it for the children.

[RichC]

Originally Posted by ps2cho

Well Comrade...Nationalize the banking system huh?

Can you make a Natzi reference tooo.

Look at the countries that have nationalized banking and get back with me.
Then take a look at the stability of their economies compared to ours.

[kerry]

Krugman's column yesterday had an argument for nationalization. Very interesting. He argues that the FDIC nationalizes small banks routinely for a period for time and then re-privatizes them.

[tankdriver]

Originally Posted by kerry

Krugman's column yesterday had an argument for nationalization. Very interesting. He argues that the FDIC nationalizes small banks routinely for a period for time and then re-privatizes them.

What?! That's impossible. Once they nationalize them, it's impossible for them to be re-privatized.

[AustinsCE]

Originally Posted by RichC

Can you make a Natzi reference tooo.

Look at the countries that have nationalized banking and get back with me.
Then take a look at the stability of their economies compared to ours.

Look at this country, before nationalized banking regulation and control?? What the hell, again you're always saying the government is evil BUT... let's give them more power. Flying cars might seem really cool, but a "socialist" world won't bring 'The Jetsons'.

[aklim]

Originally Posted by RichC

Look at the countries that have nationalized banking and get back with me.

Lets look at Fannie and Freddie. How is that working out for us again? Besides 2 institutions that should NEVER have been created that we are bailing out, that is. Now we want more things nationalized? Hmmmm. What next? Put the insane in charge of the asylum? How about letting the druggies watch the narcotics keys in the pharmacy? I think I'll pass on that.

[RichC]

Originally Posted by AustinsCE

Look at this country, before nationalized banking regulation and control?? What the hell, again you're always saying the government is evil BUT... let's give them more power. Flying cars might seem really cool, but a "socialist" world won't bring 'The Jetsons'.

A government of the people, by the people, for the people.

I believe many people in government are corrupt, and it is up to us to get them out of power.

[aklim]

Originally Posted by RichC

I believe many people in government are corrupt, and it is up to us to get them out of power.

And at this time, if we nationalize anything, who will manage it? The same fine, upstanding citizens you mentioned? Think it will be a good idea?