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  1. #1
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    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.








  2. #2
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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.
    WARNING: This post may contain material offensive to those who lack wit, humor, common sense and/or supporting factual or anecdotal evidence. All statements and assertions contained herein may be subject to literary devices not limited to: irony, metaphor, allusion and dripping sarcasm.




  3. #3
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    Re: Lindsey Graham for nationalizing banks

    Quote Originally Posted by HoustonRaven View Post
    Wow .... now you're resorting to out of context quotes?

    Things must REALLY be bad on your side.
    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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    Re: Lindsey Graham for nationalizing banks

    Quote Originally Posted by TRAP View Post
    I hate to tell everyone but the banks were nationalized when the govt bailed them out in November.

    There is no longer the free enterprise system.

    This is what they do so well in Europe.

    Welcome poverty.
    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.








  5. #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.




  6. #6
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    Re: Lindsey Graham for nationalizing banks

    Quote Originally Posted by TRAP View Post
    Galen - Did you ever study economics in college?
    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.


    Quote Originally Posted by TRAP View Post
    CAPITALISM was the strongest and freest system man has ever seen. Sure it failed in Oct but it failed before because of greed and bounced back lack after the depression but when you take in the ups with the downs it has always been on the ups.
    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.








  7. #7
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    Re: Lindsey Graham for nationalizing banks

    Our oncoming and inevitable poverty is a result if the combination of deregulation and greed.
    No, our oncoming and inevitable poverty is the result of a massive debt load the government has taken on that we can't possibly pay. The national debt plus the unfunded SS and Medicare mandates will crush this country, not greed and deregulation.

    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.




  8. #8

    Re: Lindsey Graham for nationalizing banks

    Quote Originally Posted by Greg View Post
    And greed was as alive then as now.
    Yes, but not nearly so polished!




  9. #9
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    Re: Lindsey Graham for nationalizing banks

    Quote Originally Posted by Greg View Post
    No, our oncoming and inevitable poverty is the result of a massive debt load the government has taken on that we can't possibly pay. The national debt plus the unfunded SS and Medicare mandates will crush this country, not greed and deregulation.

    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.
    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.








  10. #10
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    Re: Lindsey Graham for nationalizing banks

    Quote Originally Posted by TRAP View Post
    OK GALEN - Do you really want the govt to control your savings?

    Here's what happened when Chavis nationalized the banks in Venezuela.

    BANK PRESIDENT - I AM SURE THE GOVT WILL GIVE US A FAIR PRICE FOR THE BANK.

    CHAVIS - EITHER YOUR BRAINS OR YOUR SIGNATURE WILL BE ON THAT CONTRACT. LOL

    http://www.venezuelanalysis.com/news/3687



    And Here's a little exchange of what happens when you nationalize the bank. As Lott said, look at what Chavis did in Venezuela. Is that what you want.

    As also mentioned, the regulations of the banks is what caused the mess to begin with when the govt forced the banks to make loans they would never make.

    Thats exactly what I said above that the Fannies and Freddies put pressure on the banks to make loans w/o bank checks to people who couldnt afford him.

    But Im sure you like Chavis style of taking over.

    http://www.foxnews.com/story/0,2933,494505,00.html
    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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