Matthew Rothschild: Nationalize the Banks

[marmar]

Nationalize the Banks
By Matthew Rothschild, February 11, 2009


One Treasury official after another is doing somersaults on a wire to distract us from the obvious: We need to nationalize many of the banks, not save them as private entities.

The banks got us into this financial mess in the first place by making unwise home loans and by speculating in unregulated credit-default swaps tied to those loans. They have taken the entire world economy down with them. They don’t deserve to be bailed out.

If our government really believed in free enterprise, these banks would be out of business right now.

Instead, first the Bush Administration and now the Obama Administration have decided to act like an iron lung for the banks, pumping hundreds of billions of dollars into them to keep them alive.

There is no reason to do that. .........(more)

The complete piece is at: http://www.progressive.org/mag/wx021109.html

[Richard Steele]

1. Exactly so. K&R

[lovuian]

2. they want Nationalization to control the money

it would get very ugly

[girl gone mad]

7. It's already very ugly.

I have no idea who the "they" that you refer to is. I'm sorry to be the one to break it to you, but our banks are largely insolvent. Nationalization is inevitable at this point.

[wordpix]

3. I agree

[TankLV]

4. Privatizing the PROFITS and Socialilzing the RISKS and DAMAGES has GOT to STOP - NOW!!!

We should nationalize the insurance industry now, too - and then dismantle it - and create government paid-for single payer HEALTH CARE.

It is just incomprehensible to me how they all try to rationalize NOT doing the OBVIOUS...

We could have NATIONAL HEALTH CARE TOMORROW...

[goforit]

5. Rothchilds back again when all is rock bottom to walk away with the prize.

The Rothchilds are vultures.

These are the same assholes that bought a condo right infront of the WTC a couple months prior to 911 for the show.

[Joe the Liberal]

6. Wait..............

Isn't the Rothschild family full of international bankers? It's kind of ironic to see one of their own wanting to nationalize the banks, keeping the banks privately owned is what gives them all their wealth and power.

[glitch]

8. He's correct but that would be too shocking this soon into the new admin. K & R anyway nt

[defendandprotect]

9. Capitalism is dead . . . . NATIONALIZE the banks --- !!!

and, ironically, the GOP de-regulating capitalism is what killed it.

The only way capitalism can survive is thru regulation.

Unregulated capitalism is merely organized crime.