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02-15-2009, 11:48 PM #1
Lindsey Graham for nationalizing banks
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.
Obama:
...voice in opposition to nationalization is President Barack Obama, who in a recent interview with ABC rejected the "Swedish" approach to revamping the banking system. "We want to retain a strong sense of that private capital fulfilling the core -- core investment needs of this country,"
Interesting twist.
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02-16-2009, 11:10 AM #2Legendary RSR Poster
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Re: Lindsey Graham for nationalizing banks
Wow .... now you're resorting to out of context quotes?
Things must REALLY be bad on your side.
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02-16-2009, 12:17 PM #3
Re: Lindsey Graham for nationalizing banks
Actually "my side" is doing pretty well right now as you notice we have the presidency, the senate, the house and the polls in our favor. Your side doesn't have a whole a lot except obstructionist symbolic victories which the public appears able to see through.
What exactly was taken out of context? Bluster all you want but try backing something up at least once in a while. The truth is everyone sees how bad the economy is to the point now that even folks like Graham, who still hasn't realized that McPflailin lost, is recognizing that some sensible government intervention is worth considering. You should be praising Obama who at least on the surface seems to be resistent to the idea.
http://www.youtube.com/watch?v=YFyEB...layer_embedded
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02-18-2009, 11:58 PM #4
Re: Lindsey Graham for nationalizing banks
Its not nationalism or socialism that will create the future poverty that this nation has yet to realize. Our oncoming and inevitable poverty is a result if the combination of deregulation and greed. Anyone with a clear mind can see that. You have the cart in front of the horse Trap.
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02-19-2009, 11:15 AM #5
Re: Lindsey Graham for nationalizing banks
Yes, the corruption and greed on the part of our fearless leader, and gis cronies. It gives them more power to make us all poor. It is in the Democrats best interest.
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02-19-2009, 01:07 PM #6
Re: Lindsey Graham for nationalizing banks
no...i have already said that. I don't much about economics that is why I have been trying to read about it from those who do. What I have learned is that predicting economic trends appears to be about as easy as predicting the weather. My favorite meteorologist is Joe Bastardi who is correct about half the time so anyone who claims to know what is the answer economically, is probably full of themselves. Those who can only say "more tax cuts" and "No spending" are only parroting talking points in my opinion.
Maybe...fundamental principles of capitalism - deregulation and greed - have created the mess we have right now. I believe that capitalism spurs innovation which is a good thing but it needs to be tempered with some regulation especially critical and complicated markets such as the mortgage industry. Our economy will hopefully evolve into a hybrid of innovation through capitalism and safety through regulation. Of course there will be less wealth as a result but that is ok to me. How much stuff does one need?
Our present system is looking more like a developing nation that has a wealthy class and an improvished class with no middle.
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02-19-2009, 01:53 PM #7
Re: Lindsey Graham for nationalizing banks
Our oncoming and inevitable poverty is a result if the combination of deregulation and greed.
We had a lot less regulations in the 50s and 60s when our economy really took off. And greed was as alive then as now.
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02-19-2009, 02:09 PM #8
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02-19-2009, 03:18 PM #9
Re: Lindsey Graham for nationalizing banks
Familys in the 60's were happy wth one car, 1500 sq, foot home, on 19 inch t.v. Now we have to have two income homes, gargantuan S.U.V's, 4000 sq. foot homes. 50's and 60's was about the middle class and middle class values. People were happy to have a home and one car.
Regulation a far as home purchasing became non-existent in the 2k's. Comparing the two is foolhardy.
You can predict "socialistic" failures about the future if you want to and that is up for deabte. What you can't debate is that our current problems stem from unbridled capitalism....plain and simple. Even Greenspan is moving towards additional regulation.
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02-19-2009, 09:22 PM #10
Re: Lindsey Graham for nationalizing banks
This is why there is no discussion going on between the D's and the R's in congress right now. The R's take everything to an etxreme absurd. No one is saying we should run a "Chavisian" style economy. We are not 3rd world (at least yet).
Giving loans to nonworthy families for mortgages wasn't because the government was forcing lenders to do it...it was because government allowed lenders to do it and greed took of with it. It used to be hard to get a loan for a house...in the past decade anyone could.
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