Sen. Graham Open to 'Nationalizing the Banks'

I think this it the time for a reform bill for the entire credit and financial system geared towards preventing and safeguarding against a re-occurrence of this situation as has already been voiced.

It is hard to believe they can say things like this without their noses growing so they can no longer get into the capital building.

The entire Republican response to this bill has been one of political theater and calculation. They met and decided that their only chance to regain power is in the possibility that Obama will fail and they will have opposed them. That isn't leadership. That is shooting craps which is about what they are worth anymore.

Good for President Obama to get back out with the people again. I wouldn't want to hang out with people like this that care squat about the country compared to their own political fortunes.

James... I agree...
Annie... I also agree
IMO, I think this action of Opposition by the GOP will blow up in their faces. They want and need the President to fail. If the President fails so do the American people as we can see from the Bush years. And I don't know about you but, I cannot afford for things to get much worse.
I admire the President for reaching out in bipartisan fashion, but if the Reps. reject him because they want things done their way, that is just spoiled stupidity...If we wanted things written up in GOP, the President would not be Obama.

I stand firmly with the President as I believe him to be sincere, determined and progressive.
However, the Democratic Congress has done nothing as yet to earn my trust or support. My hope is that that under the leadership of President Obama, their focus will become clearer, putting aside some pet projects to find a center to rally behind the President. I believe this is their true strength.

As for the GOP, if they keep going in the same direction they seem to be...due to their incomprehensible shortsightedness...
I would not find it surprising that a whole different and new party arises as the GOP goes into extinction, something they have not cared about before...

"I admire the President for reaching out in bipartisan fashion,..."

Just how has Obama reached out in a bi-partisan fashion? I'd laugh if it wasn't so outrageously an uninformed lie backed up by MSM propaganda for Obama. Republicans were totally kept out of the House Bill and had little or no input on the Senate bill. Republicans were not given a copy of the Bill in time to read it. Republican concerns for all the pork were ignored. This is a farce. Obama and the Democrats are shoving a spending and program bill through disguised as a stimulus bill with hysterical doom and gloom rhetoric to aid the President/Democrats in getting their way. Just watch the doom and gloom disappear quickly to make Obama look good.

Obama has spread fear not support for our country or a reliance on our strengths. Where is the "we can get through this" or "we are a great country who can overcome our problem" speeches? This man is pushing our country into socialism or beyond. He will be worse than Jimmy Carter, which is saying something.

People complained that under Bush we spent too much money yet now under Obama we are spending three times what Bush spent.

So what Democrats are saying is that 'we are in debt so piling on three times the amount of debt will get us out of debt'.

I feel sorry for anyone who believes the government is going to bailout them out of their problems.

To pay for Obama's spending plan, the Federal government is borrowing money from collapsing economies around the world yet Americans are under the impression that happy days are coming.

I feel sorry for those who are depending upon the government to take care them; a whole lot of people are facing a terrible 'misery index' unlike anything we had under Carter.

I am amazed at the comments I see and elsewhere. We are to believe blindly in a President who has no real experience at anything...simply because he has grand vision. Exactly what is that vision and how does it apply in any way to the problems facing this country? How has he shown real leadership over the past 30 days? Do his cabinet selections make you think this will work out in the end? His Treasury Secretary, Geithner, goes before Congress to ask for $2 trillion dollars but fails to have details ready for review. Geithner's basic response when asked about his program...trust me. And this coming from a man who failed to pay his taxes for several years.

Congress....not there's a group that inspires confidence. Democrats in Congress were in large part the cause of the current financial crisis. They forced banks and mortgage companies to loan money to those who could not afford it. That "directive" encouraged those very same institutions to become a little more creative when it came to mortgages in general. Democrats in Congress weren't happy to stop there, no, they encourage Fannie Mae & Freddie Mac to expand their risk profile to allow more and more lending....effectively poisoning the entire financial system.

And now, the same "leaders" who rushed through the $700 billion TARP program last fall are back asking us for $800 billion on new spending, $2 trillion on another bank bailout and possibly another $1 trillion for more "spending"....all at the drop of the hat and with literally no real review or discussion. The rationale...from Obama and the Democrats...we must spend of else face a depression. Real leadership...no doubt about it.

Regarding the Republicans...yes, they blew it the past 8 years spending money they should not have. However, I would rather they develop a backbone when it counts than continue to act irresponsibly.

Finally a spark of intelligence from the GOP after they nearly destroyed the nation? Please make sure the next economic theory you push actually works before you spend 24+ years pushing it.

Any of you pro socialism twits ever live in a country that has nationalized private industry/business? Have fun in long lines for EVERYTHING under the sun, if it's even available. Food, gas, medicine, DR visit, you name it. Oh well, at least we have Obama to dream about..right?

Guess what? We already get to wait in long lines at the grocery story, at the doctor's office, even at the gas station at time.

Oversight of how and where they spent our money the first time around was not done. As a result, the CEOs spent our money on inappropriate bonuses and buyouts. The next step up from oversight is nationalization. You knew it, I knew it, they should have known it. They're still trying to get our money without any strings. As far as I'm concerned, nationalization is no longer scary.

Great.. just one more step on the road to socialism.

jan- if you aren't scared by nationalization of the banks, you should be.

I am so sick of the whining repugnicans. It's going to be a long 4 years. Pres.Obama did not make this mess. He inherited it. Shut up already you lost ! get over it. It is because of the republicans we are in this mess. It is obvious you don't know how to cooperate.

Jan, we aren't taking any more steps to Socialism. We're there! We are now taking steps towards total centralization of the federal government. People better revolt NOW, or everything will be lost as I guess it will because we have nothing but a bunch of idealogically brain-washed, historically uneducated duffusses running around cheering "Hope & Change" while thinking Conservatism has led us down this path to destruction. Well, George Bush was NO conservative along with so many other big spending, big Government NWO Republicans such as Lindsey Grahamnesty!

Dishonesty & Greed behind it all. Where are the real leaders? We are looking at inflation like we have never seen. Germany in the late 20's when the price of a meal could change before you finished eating. This is the end result of everyone for themselves without moral constraint.

I'm taking mine to an offshore trust and becoming a PT person that has no domicile. How bout you?

Obama is out to destroy the US as we know it. He is just as bad as Chavez.

He was to be the Emperor and Savior.

ellsbells930 - you have got to be a cool-aid drinker, who doesn't work, has no life, blames everyone and points finger.

HEY IDIOT. ALL THE politicians, including you beloved obama and his crooks like axelrod, are screwing you and you like it.

you are a fool who need to fall into a pit of hot melting oil, and even then you will fall into the pot because you're an idiot.

You want to live in Venezuela, MOVE THERE, and take Obama and Congress with YOU!

Just heard on the BBC that Chavez has won in his referendum to remain in office indefinitely. This type thing is already percolating with the Obama cultists. Chavez says he needs at least 10 more years to complete his revolution. Now we may be faced with an Obama in the White House until his demolition completes.

Congress voted for a bill that no one read at the President's insistence. I think every member who voted for this garbage disguised as a bill should be tried for treason.

Sen Graham is a Statist. He is a tool of the left. Thanks for reminding me to leave the GOP and become a Libertarian, Lindsey.

I get so angry to see BS like this. The housing plummet was caused by people losing their jobs. Our jobs have been continually shipped to 3rd world, low pay countries. They call this selling America in exchange for money business, I however call it down right GREED. How many of you can honestly say that if you lost your job you wouldn't lose your home? How many of you honestly have 6-8 months worth of house payments sitting in the bank along with some savings account money for a rainy day? NOT MANY!!!!!! I don't. Yes, there may have been people who over extended themsleves, but right now, EVERYONE IS OVER EXTENDED. Remember folks.... the LOVE of money is the root of ALL EVIL.

It is no surprise to find this site loaded with Obamas Kool Aid Drinkers, it is after all ABC. We all know that is a bastion of socialism all be it concealed under the guise of liberalism. Most liberals are to ignorant to realize that they have been duped into accepting socialism from Obama and the Democrat machine, however I digress.
While I despise the quisling Lindsay Graham, who has long been John McCains lapdog. I have to at least agree with him on this issue, let me educate you children on the benefits of a national bank over a central bank.
The central bank concept, contrary to popular opinion is one of the central tenets of Communism. It ws designed by the banksters for the banksters, the national bank would actually take the power away from the Lords of Capital for the first time in over a century. A national bank would mean that our government would not pay interest on our own money. Think about that concept all you crazy crackpot leftists? All your pet soicial programs would be possible, we can fight about those after we get our freedom back.

President Obama stepped into a mess but I beleive that if given the chance he can along with the true leaders that are there to really represent the needed and not-so-needed can make our country better. The dilemma with the bank and housing all the foreclosures that are pending and those that are entering should have a set 5% or 6%interest and include their property taxes and house insurance. The banks would have money on those loans and can make new loans without fear of losing out totally. If not then those people that are buying up property can sell at a profit and not try to make it rich off of one sale. Beleive it or not people will not buy if they can not see a positive gleam. The consummers will then start to trust our lending institutions, government, and the spending would start. There is this old saying that a burnt child does not play with fire. I just don't understand what my great state senator L.Graham is thinking. For the love of me I do not know what part of homeless he does not see. With renting there is a credit check and negative credit will not allow you to rent. Mr. Graham is having a meeting in Columbia, SC tonight and not all of us can make. what we as the people of this great nation have to do is speak out and make these so call representatives of ours accountable. when they are trying to be elected they are so humble and understanding but after election the huddling and real garments are replaced. I'll stop here for now.

Barney Frank and Chris Dodd are the two who are responsible for wiping out the savings of retiring baby boomer's. They pushed the Community Reinvestment Act which forced banks to extend loans to individuals who had no means to repay.

Electing a Marxist to implement more failed socialist policies is not smart, it is plainly ignorant. I hope you socialist bottom-feeders enjoy standing in line to get your monthly food rations.

Why would anyone invest a dime of their capital in this economy which has been Nationalized? The idiots are running the asylum. Idiots have traded their freedom for the privilege of allowing an ignorant government bureaucrat to make their decisions for them. That's Progress?

Nationalized Banks -
Socialized Medicine

National Socialist?