Lindsey Ping"Republican by day, Democrat by night."
Posted on 02/15/2009 3:13:21 PM PST by rabscuttle385
Rep. Maxine Waters was lambasted as a left-wing radical last year when she raised the idea of nationalizing the oil industry. But on a Sunday morning talk show, a Republican senator came off even more supportive than her of nationalizing banks.
“I would not take off the idea of nationalizing the banks,” Sen. Lindsey Graham (R-S.C.), said on ABC’s “This Week with George Stephanopoulos.”
Graham, a confidant of former Republican presidential nominee Sen. John McCain (Ariz.), said that the problems in the economy and the financial sector are so severe that U.S. policy makers may have to start thinking about things once labeled unthinkable.
“This idea of nationalizing banks is not comfortable,” said Graham, appearing downcast. “But I think we have gotten 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.”
Graham's remarks come months after then President Bush and his treasury secretary, Henry Paulson, bailed out major companies in the financial sector and successfully persuaded Congress to pass a $700 financial rescue package that triggered concerns about nationalizing banks.
(Excerpt) Read more at thehill.com ...
Lindsey Graham advocates bank nationalization while Chuck Schumer admits that "government's not good at making these decisions as to who gets loans and how this happens."
Wtf.
Pigs are flying. Lindsay Graham ping.
Graham is, and always was, a weasel.
Keeping a vault in the basement is looking more and more attractive all the time.
If things get really bad, we’ll leave all money out on the front porch and put our food reserves in the vault!
Lindsey Graham is an enemy of our Republic. This is just more evidence to that fact.
South Carolina just re-elected this POS!!
South Carolina must be embarrassed to have re-elected this RINO loser...and just wait until Illegal Alien Amnesty comes up again....
If anyone was waiting for a last straw concerning
Lindsay Graham, well I think this it.
Schumer (D) states publicly he’s against nationalizing
our banking system (lying no doubt).
Graham (R-D) states publicly on the same national program that he is in
favor of nationalizing our banking system, in agreement with Marxeen Waters no less.
Well, at least he didn’t come out in favor of the Stim-u-lie, which I thought he would do.
Graham came out in favor of a stimulus, just not this one.
Lloyds Banking Group has dismissed as "tosh" speculation that it will be nationalised following last week's shock revelation that its merger with HBOS cost it almost £11bn of losses.
By Helia Ebrahimi and Katherine Griffiths
Last Updated: 10:53PM GMT 15 Feb 2009
Lloyds Banking Group has dismissed speculation that it may be nationalised It came as investors braced themselves for another volatile day's trading on Monday amid growing fears the bank will have to take a further capital injection from the state.
Senior banking sources say that the rate and scale of the write-downs suggest the bank will need to raise £5bn to £10bn more in capital.
It was also suggested it might seek to save almost £500m a year in dividend payments to the Government by getting them to convert their preference shares into ordinary shares, leaving taxpayers with more than 50pc of the company.
{snip]
Tim Geithner must nationalise some of America's biggest banks and take the total toll of the US bail-out to around $2 trillion, according to one of the world's most prominent economists.
By James Quinn Wall Street Correspondent
Last Updated: 11:04PM GMT 15 Feb 2009
Nouriel Roubini – the man feted with having foreseen the financial crisis before almost any of his peers – has warned that the US Treasury Secretary must go significantly further than his detail-light bail-out plan delivered last week, and argues that the Obama administration should move swiftly to take public ownership of those major US banks which are failing.
Professor Roubini, who worked with Mr Geithner in the Clinton administration, told The Daily Telegraph: "Many US banks are insolvent, even the major ones." While nationalisation is "a politically- charged decision" which needs to be handled carefully, he said it needs to take place "sooner rather than later" for the sake of the wider economy.
Professor Roubini calculated that, on top of the existing $700bn (£491bn) of American taxpayers' money allocated to solving the banking crisis, Mr Geithner may need to ask the US Congress for between $1,000bn and $1,250bn in extra funds. "Sooner rather than later, they'll need more money," he added.
[snip]
ZOMBIES are everywhere
They like to keep us guessing or confused.
They’re both out the door as far as I’m concerned.
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