View Full Version : Nationalization [of Banks] Gets a New, Serious Look

01-26-2009, 08:44 AM
Nationalization Gets a New, Serious Look (http://www.nytimes.com/2009/01/26/business/economy/26banks.html?_r=1&pagewanted=all)

The Obama administration is making only glancing references to those questions. In an interview Sunday on “This Week” on ABC, the House speaker, Nancy Pelosi, alluded to internal debate when she was asked whether nationalization, or partial nationalization, of the largest banks was a good idea.

“Well, whatever you want to call it,” said Ms. Pelosi, Democrat of California. “If we are strengthening them, then the American people should get some of the upside of that strengthening. Some people call that nationalization.

“I’m not talking about total ownership,” she quickly cautioned — stopping herself by posing a question: “Would we have ever thought we would see the day when we’d be using that terminology? ‘Nationalization of the banks?’ ”

It seems to me that they've been working toward that goal for a long time. I'm sure she and her socialists in the D party are thrilled about the prospect.

A. Havnes
01-26-2009, 09:03 AM
So, what can we do to stop this, because I'm not going to wait around until 2012. Ron Paul said himself that it's very hard to undo stuff like this once it's in motion.

01-26-2009, 09:04 AM
This is scary. I hope my bank isn't considered "one of the largest."

01-26-2009, 09:19 AM
I have a small community bank that is still doing well and I have a savings account in a Credit Union which is also safe. I never had used a major bank and may never will.

But this "Nationalization" is bad, this is his "expert" advisers that came up with this plan if I'm not mistaking.

01-26-2009, 09:19 AM
This is scary. I hope my bank isn't considered "one of the largest."

Does it matter? They're giving money to the big banks, and the big banks are sitting on it for the expressed purpose of swallowing the small ones. Meanwhile, we're buying stock in the big ones as they swallow the little ones. What will remain?

Hope there are antiquated laws on the books forbidding banks from swallowing credit unions--and hope they don't get repealed!

01-26-2009, 09:40 AM
What will remain?

Credit Unions