03/18/2009 05:12 am ET Updated May 25, 2011

Andrew Sullivan Predicts Obama Will Nationalize Several Major Banks (VIDEO)

Andrew Sullivan, appearing on the Chris Matthews Show, predicted that that President Obama would end up nationalizing several major banks, and that the stress tests for these financial institutions that Treasury Secretary Geithner has proposed are the first step in explaining to the American public, for which nationalization is a charged word, why this has to happen.

Two senior Republicans, Senator Lindsay Graham of South Carolina and Representative Peter King of New York said this morning that nationalization of the banks must remain an option.

Watch Sullivan's prediction below.