“Republican” Lindsey Graham: We May Need To Nationalize The Banks

• February 16, 2009

Because nothing says “limited government” like government-run financial markets.

If you don’t think nationalizing the banks is a big deal, keep in mind that nationalizing the banks means nationalizing our credit markets. If the government runs the banks, that unless you’re working with some capital rich independent investor (rare) if you want to start a business or get a line of credit or buy a home or even get a car you’re going to have to deal with the government. And pay rates and fees set by the government though a political process as opposed to rates and fees set through fierce competition among private financial institutions.
Which means our free market would no longer be free, because it’d be entirely dependent on government-controlled capital.
That’s not a situation we want.
If Republicans want to know why the GOP isn’t trusted by the American people right now, it’s because people like Lindsey Graham claim to believe in limited government principles but act to expand the size and power of government once they’re elected. If the GOP wants to end its time wandering in the wilderness, it needs to get rid of people like Lindsey Graham.

Tags: Asshats, Domestic Issues, Politics

http://Array MikeAdamson

This path has failed every time it’s been tried.

It worked quite well in Sweden.

With Sweden’s banks effectively bankrupt in the early 1990s, a center-right government pulled off a rapid recovery that led to taxpayers making money in the long run.

Former government officials in Sweden, many of whom come from the market-oriented end of the political spectrum, say the only way to solve the crisis in the United States is for the government to be prepared to temporarily take full ownership of the banks.

While recognising that Sweden is not America, I haven’t seen another proposal that will cost the taxpayers less and start the credit healing process in earnest. As I said, don’t call it nationalisation…call it conservatorship if you’d rather.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Wow, Obama destroyed the banks in a month?

Good thing we had that Utopia prior to Jan 20th!

See stems, if your guys hadn’t FUCKED the country up so bad, we wouldn’t be worrying about widepsread bank failures.
brenarlo

Nationalizing banks essentially means we are no longer a capitalist country. After all, people must control capital for it to be capitalistic.

If that happens… we cannot say we are anything other than a socialist country. There’s no way to spin it. There’s no way to sugar coat it. The US would be a socialist country.
crshedd

republicans! why do they hate america?

socialists, every one of them! next, they will be hangin’ with chavez!
Neiman

Insanity! First, Graham is a whiny voiced little RINO turd, I don’t know why he doesn’t change parties and get it over with. Nationalization kills free market capitalism, privacy and liberty, it is the beginning of the end for America!
docdave

mike, if Swedens socialism is doing so well why are they abandoning it? From Washington Times

Last September, a political earthquake shook the Riksdag (parliament) here in Stockholm when Swedish voters decided to cast off former Prime Minister Goran Persson’s venerable Social Democratic government in favor of a more market-oriented political alliance led by Moderate Party leader, Fredrik Reinfeldt. “They [the Social Democrats] were stunned,” says Riksdag official Yngve Borgstrom, of the 2006 election. “They really didn’t expect to lose their powerful positions.”

Scandinavian political revolutions are quiet on the surface, but a sea of change lies below. The tide that brought victory to Mr. Reinfeldt’s coalition (Christian Democrats, Folk Party and Center Party) represents a flood of Swedish desire, particularly from those younger than 40, to embark on a new economic course. Privatization, tax reduction and deregulation are all part of the program to bring Sweden into the global economy of the 21st century.

Every country that answers the call to socialism has eventually discovered that road leads to nowhere.
http://SayAnythingBlog.com The_Whistler_ofnd

I suppose if we don’t agree with Grahamnesty on this he’ll call us all bigot’s again.
sc

I disagree with nationalizing any industry. But what do you when banks do not act like banks. Like making ridiculous loans, losing money, stop lending, and yet, continue to pay high compensation to the people who run the banks into the ground? The answer is let them all go broke and then not have any banks.
bill-tb

Obama is just plane stupid.

And he thinks you are as stupid as his leftard morons are.
robert108

Nationalise the biggest banks…

The first step in a long journey into failure, corruption, stagnation and poverty. Except for the rich ruling elite, of course.
This path has failed every time it’s been tried.
Totalitarianism never works.
http://en.wikipedia.org/wiki/David_Petraeus Last Best Hope

With Europe dying slowly under socialist dogma and China/Russia running away from their own past as fast as they can… who in their right mind would allow US to follow such documented models for failure and decline as is the socialist/communist experience?

the Democrats
MikeAdamson

dd

mike, if Swedens socialism is doing so well why are they abandoning it?

You may have missed the part about the center-right government rescuing the Swedish banks and making money for the taxpayers in the long run.
MikeAdamson

Nationalise the biggest banks, strip out the toxic assets, sell what’s left back to the private sector. The banks won’t/can’t write down the crap because they’ll be insolvent. They can’t sell the crap at the bid price for the same reason. Nobody in their right mind is going to pay the asking price. What’s left?

Call it something other than nationalisation if it’s more palatable but get on with it already.
http://ndgoon.blogspot.com/ goon

That doesn’t sound very conservative.
robert108

Wow, Obama destroyed the banks in a month?

No, moron little dinostem! You Demstems have been working to destroy the banks for over thirty years, and now Obamastem is poised to finish off freedom in the world.
You totalitarians will always fail. You eat yourselves, in your lust for power.
Brent

It deserves to be said again: How can SC elected a great governor like Sanford and such a terrible senator like Graham?
2Hotel9

Once again, Lindsay Grahamnisty is not and never has been a Republican. Much less an American.
jimmypop

why not just let the bad businesses close?
http://ndgoon.blogspot.com/ goon

I agree Neiman Lindsy is a poser and a RINO and should be voted out of office in the next GOP primary.
robert108

next, they will be hangin’ with chavez!

Too late! Obama has already staked out that territory.
http://suitepotato.blogspot.com/ sayanything-4808

Rob’s take is exactly right. Dino’s is deluded and antisocial.

Anyone who didn’t see that coming, I’d like to sell you a bridge in San Fran.

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“Republican” Lindsey Graham: We May Need To Nationalize The Banks

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