The fact that the Federal Reserve (not federal and no reserves, simply a cartel of the world's largest INTERNATIONAL banks with the ability to set monetary policy) is a de facto central bank — that calls the shots for congress, since they can ruin the economy at-will — nationalizing the banks essentially puts the Federal Reserve (INTERNATIONAL BANKING) in full control of our country. Our government will be their servants. We will be enslaved.
In essence, we already have a central bank and that central bank rules our government. But nationalization of the banks formalizes the tyranny of the international money interests who are not acting for the our good or liberty, but for totalitarianism with them at the helm.
If the total deposits in the USA are in the area if 7 trillion, how much of that is really at risk? Maybe 2 trillion at the most?
So suppose that instead of the insane stimulus bill, the government had agreed to insure any and all accounts, whether they be $50,000 or $500 million.
Then just let the bad banks go bust with no such rule as too big to fail.
Not all banks would go bust.
Most that would go bust have assets that would be purchased by others resulting in a much less than total loss.
Therefore, even if 1/3 of the banks went bust, the loss to the government would not be $2 trillion.
As it is, we are setting ourselves up to a cost far exceeding $2 trillion and are not really bringing about a cure.
The real cure is to get rid of the bad banks and put their management on the roles of the unemployed where they might find a job more in line with their capabilities.