Posted on 02/17/2009 6:53:47 AM PST by rabscuttle385
Graham: Ignoring possibility is irresponsible.
Despite criticism from fellow Republicans, U.S. Sen. Lindsey Graham of South Carolina Monday defended his statement that the U.S. should consider nationalizing some banks.
Critics, including the chairman of Charlotte-based Bank of America and many politicians, have slammed the idea. That doesn't bother the outspoken Graham.
“Politicians are worried about words,” he said Monday. “I'm worried about outcomes.”
Graham said the government has already poured billions into banks with little to show for the economy. Bank of America, which has received $45 billion in bailout money, is currently worth $27 billion in market capitalization.
“The truth is we've put more money into the Bank of America than it's worth,” Graham said. “That's not nationalization. That's just stupid.”
Graham broached the idea Sunday on ABC's “This Week.”
“This idea of nationalizing banks is not comfortable,” he said then, “but I think we have gotten so many toxic assets … that we're going to have to do something that no one ever envisioned a year ago (and) no one likes.”
His comments surprised many Republicans.
“That's going above and beyond being a maverick,” said Glenn McCall, York County GOP chairman and a Bank of America executive. “That's saying that socialism in our country would work better than letting folks use their God-given talent to create and foster economic growth.”
(Excerpt) Read more at charlotteobserver.com ...
McLame’s lap dog strikes again.
Girlie guy Graham grates
Right on cue, Senator Opie’s rhetoric shifts from fire breathing conservative to limp populist lapdog ... and all within a week.
Graham must be reading the Chavez playbook. Methinks this nation is in need of a good cleansing and the sooner the better .
Does this bitch ever STFU?
Awaiting the responses from the Graham defenders...
Yes, the same people who rail at the conservative voters when they refuse to vote for more RINOism.
(crickets)
“Does this bitch ever STFU?”
Only when McCain stops pulling his string ...
Lindsey ‘Yewww shut up!’ Graham is the GOP version of John Edwards....
The banks have gotten their bailouts, and instead of passing this good fortune onto the customers, they’ve acted in the direct opposite manner, restricting consumer credit even further.
And if what he says is true (that bailout funds have already exceeded BofA’s market cap), then it sort of makes sense.
Would anyone here give the car companies the same benefit? Hell no!
Let’s nationalize Lindsey’s assets...no, on second thought...LOL!
Not funny.
“The truth is we've put more money into the Bank of America than it's worth,” Graham said. “That's not nationalization. That's just stupid.”
I'll have to agree with the Senator on the symptom but not the cure.
That's what she...I mean, he, said.
Argghhh.
aye
Boy am I sorry I ever sent that guy money.
You beat me to it -- I was just fixing to say that he was one of McCain's strongest supporters, was he not?
No surprise here Mz. Graham has been reinstalled for 6 more years. And he can for the next couple of years be the mouthpiece for McCain. McCain has to lay low and wrap himself up in conservative robes until November 2010 election.
Wonder can South Carolina recall this gal I mean guy?
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