Image by Mike Licht, NotionsCapital.com via FlickrNationalizing the US Banks? Now, just now, people want to talk about this?
Read the Article at HuffingtonPost
If the objection is based on "we, don't like the idea of it", well, that is just not good enough in my humble opinion.
The banking sector must function in order for the rest of the economy to function, and the rest of society for that matter. The US and the world cannot continue on this path of "we hope these interventions will work". The interventions may have prevented a complete free fall, but the banking system is not working as it is intended to do - support the growth and development of the economy.
Here's where I'm confused though. Are Republicans going to be in favor of it - like Senator Graham in this video - and then not vote for it just because? Are Democrats going to not vote for it because the banking lobby is probably one of the strongest?
Real options must be considered realistically - not with ideology but in the harsh cold reality of today considering the US and the US' position in the world.
What's a brief - very very brief - nationalization if it gets the economy back on track quickly? Or would everyone prefer the US economy to continue to sputter until it cannot go on anymore at all just so lawmakers can say "Well at least we didn't nationalize". What would be the point of that since if there's no economy, there would be no point of having lawmakers, would there?