Lindsey Graham Defends Bank Nationalization Statement

Charlotte Observer:

Despite criticism from fellow Republicans, U.S. Sen. Lindsey Graham of South Carolina Monday defended his statement that the U.S. should consider nationalizing some banks.

Critics, including the chairman of Charlotte-based Bank of America and many politicians, have slammed the idea. That doesn't bother the outspoken Graham.

Read the whole story: Charlotte Observer

Comments

[AnnfromCA]

10:15 AM on 02/18/2009

I get a kick out of him, and I'm sure he knew he'd have to defend his remarks.

[djgonebad]

09:50 AM on 02/18/2009

What, did McSame give him a tongue lashing during one of their "brain-storming" sessions.

[FR]

09:18 AM on 02/18/2009

LG said the government should CONSIDER nationalizing some banks.
... Like the ones that are already operating solely because of government $$$ ... what is remotely problematic about this idea?

[Mikeeee]

08:57 AM on 02/18/2009

You cannot comment on this story unless you understand this:
The Fed Reserve is not Federal, nor is it a reserve. It is owned by banks like BoA/Citi/Chase and a few others.
If it was nationalized, it would mean that the U.S. would finally and realistically have control of it's money supply for the first time in a hundred years.

http://www.globalresearch.ca/index.php?context=va&aid=10489

[Craftyone]

11:19 AM on 02/18/2009

I agree, it seems that most people are just reacting here and don't realize just what "nationalizing" would actually accomplish. I frankly don't see any other way and more and more people on both sides are coming around to this idea. It worked in Sweden. The Fed must be abolished.

[CatfishAndGrits]

08:56 AM on 02/18/2009

So CONFIRMED BACHELOR, Mr. Graham supports corporate welfare, but not social welfare that benefits the average person who falls down financially. Not surprised.

[schicklett3]

08:43 AM on 02/18/2009

Light in the Loafers Lindsay Graham - he's so scared his fearless leader Limbaugh will single him out and talk bad about him. LOL
These republicans are a sorry bunch!

[HoldenLitgo]

08:42 AM on 02/18/2009

Too late, Repub hand wringers. The Fed beat you to it.

[leeman79]

08:00 AM on 02/18/2009

A broken party with no ideas and an identity crisis. What happened to your conservative principles? Letting the free markets dictate, and everybody's going to be an entrepreneur and all that crap?

[sandals]

07:29 AM on 02/18/2009

Isn't that called "Corporate Welfare" "Socialism", and whatever scary words you want to throw out there.

These people amaze me in one hand they could care less about the working people and on the other
hand they are willing to help these corporations.

Let the "Free Market" decide how many times did we have to listen to this, all these RETHUGLICANS.
lined up to pass the bailout bill for the banks but voted no against the working people of this great
Country.

If this is "Bipartisanship, than we are screwed"! ( I believe that was his quote from Faux News)

[1differentdrummer]

05:35 AM on 02/18/2009

“I mean the government running the banks? Talk about a disaster.” Well, yes, and current management has done a really swell job, something to reward and be proud of.

[BowlingForRevenge]

04:57 AM on 02/18/2009

He LL , Lindsay Graham is totally right!
If we've poured $45 Billion into an outfit that's only worth $27 Billion...we've already bought them!
Let's just make it official! They can have the extra $18 Billion as severance!

[aflyinyoursoup]

03:06 AM on 02/18/2009

“That's saying that socialism in our country would work better than letting folks use their God-given talent to create and foster economic growth.” Says Mr. McCall.

Well, Mr McCall, "letting folks use their God-given talent to create and foster economic growth.” without regulatory oversight has gotten us where we are now! The situation is so dire that extraordinary measures are in order.
And, why does the concept of "socialization" make you nauseous? Because it will curb the abandon and selfishness with which your handlers ( The Global Corporate Power Structure) have laid waste to and robbed the real producers of this nation...THE MIDDLE CLASS!
You, Mr. McCall, are nothing more than a parasitic corporate shill.
It is time that we the people lay waste to you and your ilk.
SOCIALIZE!!!!!!!!!!

[truthynesslover]

02:53 AM on 02/18/2009

Lets start with the federal reserve.

[Dace]

02:50 AM on 02/18/2009

The white hood boy got off the assigned talking points and had a thought (very alarming for the white hood hate robots) but then it may be helpful so it was the ultimate sin. Bad senator bad - go back for reconditioning to get rid of those darn real thoughts. "ALL YOU SAY IS NO - YOU HATE AMERICA - YOU HATE OBAMA - YOU LOVE RUSH AND DO EVERYTING HE SAYS". There now lwelcome back to the white hood party - you have it down now.

[luke150]

02:43 AM on 02/18/2009

Maybe the only thing I agree with Lindsey. Certain banks should be nationalized. There is no other way to clean their balance sheets. Pouring money into "capitalization" is not solving the problem with the bad assets. Taxpayers' money are spent anyway, why not focus the funds on the eye of the storm. Until we clean the banks, there won't be a return of confidence. I am pretty sure this is where we'll end up, why waste the time and resources then?... It could be done right, Sweden did it, we've done something similar before, successfully.