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Wheels Turning
Talking Points Memo —
There was a very odd moment on This Week this morning when Rep. Maxine Waters (D-CA) and Sen. Schumer (D-NY) both said they opposed bank nationalization only to be followed by Sen. Lindsey Graham (R-SC) who said that, painful as it is to contemplate, we need to seriously consider doing so.
Now, I've said before that I think the term 'nationalization' mainly confuses and obscures the issue. And since Geithner's speech last week there does seem to be a slow but steady movement in the direction of letting the big insolvent banks fail. But this contrast points to something I've been wondering about for a while, which is whether the idea might not end up ...
Sunday Show Tour: Stimulating Squackery
The Latest on Air America —
In this week's episode of "As the Sunday Shows Spin," top honors for most-biased host goes to (no surprise, folks) ABC's George Stephanopoulos who put out the welcome matt for scads of "dubious GOP stimulus talking points. " Watch video highlights from all the shows after the jump. Runner-up for funny Sunday moment: The Atlantic's Andrew Sullivan appeared on the Chris Matthews Show, and laid a well-deserved verbal smack down on the Republican party whose fiscal conservatism put the country's economy in a coma. This Week with George Stephanopoulos Starring: Sen. Chuck Schumer and Sen. Lindsey Graham Graham says he'd be for nationalizing the banks. Schumer says he's ...
Graham Open to Nationalizing Banks
News —
Graham Open to Nationalizing Banks Sen. Lindsey Graham (R-S.C.) said this morning on ABC's "This Week" that he is open to nationalizing the country's banks. From ABC : "I think if you put most of our major banks under a 'stress test,' they're going to fail," Graham told me. "This idea of nationalizing bank is not comfortable but I think we have 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," he said. "To me banking and housing are the root cause of this program," Graham said. "I would not take off [the table] the ...
Should We Nationalize U.S. Banks?
Politics Daily —
Filed under: Bush Administration, Barack Obama, Economy, Obama AdministrationThe nation's media is buzzing over remarks made by Republican Senator Lindsay Graham in which John McCain's right hand man signaled that nationalizing the nation's banks was an option that Congress should consider. Watch: Who else is advocating what appears, at first glance, to be this most antithetical to Republican principles idea of bank nationalization? The man who predicted our financial catastrophe in the first place, Nouriel Roublni. Writing in Forbes, he ...
Lindsey Graham Wants to Nationalize the Banks? Horror!
The Latest on Air America —
On ABC's "This Week," Sen. Lindsey Graham (R-NC) shocked his fellow roundtablers by suggesting that the US should consider nationalizing its banks. Rep. Maxine Waters (D-NY) responded, appropriately, "We have come a long way!" (Video below, from TPM.)
President Obama has already come out out against this idea in interviews last week, explaining that nationalization of such a vast financial system would not only be a logistical nightmare, but that it would also go against the American tradition of "private capital fulfilling the core needs" of our economy. But economist Nouriel Roubini made a splash yesterday with his op-ed in ...
