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Bank nationalisation gains ground with Republicans [McCain+Grahamnesty] [in agreement with Obama?]
Financial Times ^ | 2009-02-17

Posted on 02/17/2009 2:28:20 PM PST by rabscuttle385

BY EDWARD LUCEA & KRISHNA GUHA

Nationalisation, long regarded in Washington as a folly of Europeans, is gaining rapid ground among US opinion-formers. Stranger still, many of those talking about federal ownership of banks are Republicans.

Lindsey Graham, the Republican senator for North Carolina, said that many of his colleagues, including John McCain, the defeated presidential candidate, agreed with his view that nationalisation of some banks should be “on the table”.

Mr Graham said that people across the US accepted his argument that it was untenable to keep throwing good money after bad into institutions such as Citigroup and Bank of America, which now have a lower net value than the amount of public funds they have received.

“You should not get caught up on a word [nationalisation],” he told the Financial Times in an interview. “I would argue that we cannot be ideologically a little bit pregnant. It doesn’t matter what you call it, but we can’t keep on funding these zombie banks [without gaining public control]. That’s what the Japanese did.”

Barack Obama, the president, who has tried to avoid panicking lawmakers and markets by entertaining the idea, has recently moved more towards what he calls the “Swedish model” – an approach backed strongly by Mr Graham.

In the early 1990s, Sweden nationalised its banking sector then auctioned banks, having cleaned up their balance sheets. “In limited circumstances the Swedish model makes sense for the US,” said Mr Graham.

(Excerpt) Read more at ft.com ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events; US: Arizona; US: South Carolina
KEYWORDS: 111th; bank; banking; bankofamerica; banks; bho2009; bho44; bhoagenda; bhostooges; bhotools; biggovernment; bofa; bushbailout; bushsellout; citi; citibank; citigroup; economy; financialcrisis; insanemccain; lindseygraham; marxism; mcbama; mccain; mccaintruthfile; mclame; mclameslapdog; mcqueeg; nationalisation; nationalization; panicof2009; porkuli; porkulus; rino; senate; socialism; socialistagenda; traitors; treason; trollsonparade; ussenate; zombiebanks
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"I would argue that we cannot be ideologically a little bit pregnant."

Lindsay says the darndest things, doesn't he?

1 posted on 02/17/2009 2:28:20 PM PST by rabscuttle385
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To: rabscuttle385

>> Lindsay says the darndest things, doesn’t he?

He says a lot of QUEER things.


2 posted on 02/17/2009 2:29:29 PM PST by Nervous Tick (Party? I don't have one anymore.)
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To: stockpirate; MaggieCarta; indylindy; roamer_1; calcowgirl; djsherin; Sunnyflorida; SoConPubbie; ...

Lindsey Graham, the Republican senator for North Carolina, said that many of his colleagues, including John McCain, the defeated presidential candidate, agreed with his view that nationalisation of some banks should be “on the table”.

Note the factual error about Grahamnesty representing North Carolina rather than South Carolina. However, the rest of what he says is perfectly in line with past behavior.

The Juan McCain Truth File.

"I have great respect for Al Gore."
—John McCain, October 2, 2008

FR Keywords: mccaintruthfile, mcqueeg, mcbama

Please tag all relevant threads with the aforementioned keywords.

This can be a very high-volume ping list at times.

To join the ping list:
FReepmail rabscuttle385 with the subject line add  mccaintruthfile.
(Stop getting pings by sending the subject line drop mccaintruthfile.)


Republican Commissar’s Warning: By joining this ping list, you may be subjected to the delusional rants and ramblings of McCainiacs, of "moderate" Republicans, of pragmatic conservatives resigned to voting for the lesser of two Democrats, and of countless GOP shills who simply want to meet a new overlord.

3 posted on 02/17/2009 2:29:40 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: PAR35; TigerLikesRooster; AndyJackson; Thane_Banquo; nicksaunt; MadLibDisease; happygrl; ...
*Ping!*
4 posted on 02/17/2009 2:30:11 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: upchuck

Lindsey ping.


5 posted on 02/17/2009 2:31:16 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: TADSLOS; cripplecreek; DoughtyOne; TigersEye; sickoflibs; Impy

6 posted on 02/17/2009 2:32:24 PM PST by rabscuttle385 ("If this be treason, then make the most of it!" —Patrick Henry)
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To: rabscuttle385

Depends on what they plan to do with Nationalization.

If their main purpose is to stabilize the troubled banks and eventually sell it back to private hands ( what Sweden did on the 1990’s, which a lot of economists considered successful ), I don’t think this is something to be concerned about.

But I am not sure what Obama and team have in mind.


7 posted on 02/17/2009 2:32:25 PM PST by SeekAndFind
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To: rabscuttle385

Apparently he can be a little bit republican and a little bit democrat.


8 posted on 02/17/2009 2:35:14 PM PST by cripplecreek (The poor bastards have us surrounded.)
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To: rabscuttle385

How about this, Mrs. McCain: Let the bad banks fail and let the regionals and smaller healthier banks pick their bones.


9 posted on 02/17/2009 2:41:34 PM PST by pissant (THE Conservative party: www.falconparty.com)
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To: rabscuttle385

I really wouldn’t call Graham and McCain Republicans. Republicans are opposed to Socialism, Marxism and Communism.


10 posted on 02/17/2009 2:44:34 PM PST by FlingWingFlyer (Have You Punched A Democrat Today? - Do it for the children.)
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To: rabscuttle385

> Nationalisation, long regarded in Washington as a folly of Europeans, is gaining rapid ground among US opinion-formers. Stranger still, many of those talking about federal ownership of banks are Republicans.

Having a bank owned by the Gummint isn’t a particularly bad thing. The New Zealand gummint established “Kiwibank” and it is wildly popular. I bank there.

Having ALL your banks owned by the gummint would be another matter entirely.


11 posted on 02/17/2009 2:45:36 PM PST by DieHard the Hunter (Is mise an ceann-cinnidh. Cha ghéill mi do dhuine. Fàg am bealach.)
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To: cripplecreek

We already knew he was Bi ;)


12 posted on 02/17/2009 2:46:01 PM PST by arealconservativeforachange (Tell JD Hayworth to run for McCain's seat! http://www.jdhayworth.com/contact.php)
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To: rabscuttle385

Scum is on both sides of the aisle. Now, do the sheeple understand it yet, that it is us against the government we have now?

I am sick of it. This is not a party thing, it is liberty against servitude. I don’t care who is piloting the ship.

Wake up, we are in a fight for liberty and what the US has always stood for.

I am repulsed by this party thing. Their joke is on us. Look, see it yet?


13 posted on 02/17/2009 2:46:25 PM PST by dforest
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To: rabscuttle385
Lindsey Graham, the Republican senator for North Carolina,

I wish he was from NORTH Carolina. LOL!

14 posted on 02/17/2009 2:47:12 PM PST by lula ( If con is the opposite of pro, is Congress the opposite of progress?)
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To: FlingWingFlyer
Republicans are opposed to Socialism, Marxism and Communism.

Not so sure about Republicans. I know Conservatives are.

15 posted on 02/17/2009 2:47:17 PM PST by arealconservativeforachange (Tell JD Hayworth to run for McCain's seat! http://www.jdhayworth.com/contact.php)
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To: arealconservativeforachange

Bicameral and a whole lot liberal.


16 posted on 02/17/2009 2:47:25 PM PST by cripplecreek (The poor bastards have us surrounded.)
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To: indylindy

BUMP!!!


17 posted on 02/17/2009 2:48:09 PM PST by calcowgirl ("Liberalism is just Communism sold by the drink." P. J. O'Rourke)
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To: rabscuttle385
Lindsey Graham, the Republican senator for North South Carolina, said that many of his colleagues fellow RINOs, including John McCain, the defeated presidential candidate, agreed with his view that nationalisation of some banks should be “on the table”.

There, fixed it.

18 posted on 02/17/2009 2:48:30 PM PST by Oshkalaboomboom
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To: arealconservativeforachange

You are correct, Sir!


19 posted on 02/17/2009 2:52:45 PM PST by FlingWingFlyer (Have You Punched A Democrat Today? - Do it for the children.)
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To: rabscuttle385; alarm rider; Alex1977; at bay; Babsig; BILL_C; bnelson44; Clintonfatigued; ...
  Lindsey Ping
  "Republican by day, Democrat by night."

  Add me to the list. / Remove me from the list.

20 posted on 02/17/2009 2:55:38 PM PST by upchuck (I'm glad I'm old. Thus I can remember when America was a decent, moral, God fearing country.)
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