Bank Nationalization Nigh?
With Greenspan on board it might be a matter of time before we own us some banks. (I hope they come with box seats to the Mets!)
Anyway, roll this action up with some billions for ACORN and the swift re-imposition of the fairness doctrine (cue scary organ music) along with some abortion clinic construction and flag desecration and I’ll be all for it.
Tags: (h/t atrios)
I hope so. The good economists have been calling for it (or “preprivatization as Calculated Risk snarkily call it) for quite some time. There is really only one way to achieve all the objectives: 1) not overpay for bad assets thus giving a boost to the bankers and shareholders that brought about the disaster, 2) ensuring that lending occurs and 3) getting the bad assets off the books. It seemed obvious but it sounds like the Obama team thought it wouldn’t be politically tenable. Well, Greenspan and Graham cleared the way so there is really no excuse anymore. I have to say I’ve been very disappointed with Geithner and Summers so far.
I’d be happy if we could just manage to re-nationalize the military.
Nationalize Halliburton!
It is awfully interesting how many folks are coming our for nationalization. Alternately, I am amazed that Geithner, et al keep pussyfooting around the inevitable. The zombie banks really need to be cleared so that the ones that are healthy (or pretty close to it) banks can get back to real business.
Banks have been living off the expectation of bailouts for years (Fannie and Wall Street too). We already own them, now we just need them to hand over the keys to the executive washroom.
Not only how many people are coming out for this, but who.
http://www.charlotteobserver.com/business/story/542119.html
I guess we really are all socialists now, huh?
The expectations of bailouts that anon talks about is right on the money. It was the core idea behind the TARP business and continues to prolong the inevitable. For some of these banks (I’m looking at you Citi), spinning out the pieces that had some value to others may have gotten your shareholders something. Now they are all facing being quite wiped out.
Mets?
Mets
As I said in another post, he’s a dick. 😉
Well on the abortion wedge front, N. Dakota just gave rights to fertilized eggs!
Can’t wait until all those lawsuits appear asking for revocation of underage drinking convictions and so forth….
And of course, eff the Mets.
ND – It’s going to make each menstrual period an opportunity for involuntary manslaughter?
Well on the abortion wedge front, N. Dakota just gave rights to fertilized eggs!
If you are pregnant – claim a deduction. The ND tax authorities will quickly clarify for you when life begins.
LOL UI!
Oh boy, giving rights to a fertilized egg! I can see it now… pregnant woman arrested for serving alcohol to a minor. Actually, that’s not funny because I can see where this is heading.
This ND egg thing isn’t funny. My wifes eggs just filed suit against me for failing to fertilize them because of a deliberate medical act. If they win, I’ll have to get the procedure reversed and I won’t have the money to feed my (already born) children.
Nati0nalizing the banks would be a acknowledgment that a large percentage of the banks 10-20% are insolvent.
Nationalizing won’t help the economy but will help consolidate the banks and weed out the losers.
are you advocating nationalization of the banks?