Would it help the US to nationalize the banking system?

[hyphenate]

TWould taking the chief financial business away from the greedy, too-rich-to-be-taxed assholes who lead the Pukes around like dogs help the country??

Are there enough people out there eager to show the baggers and the banks that we are not interested in a kleptocracy?

It wouldn't have to be permanent, but someone needs to be a parent and take away the toys of the bullies, to not only keep the peace, but to put us back on the right track. Would this help?

Maybe it won't help, but something needs to be done, and I (and I'm sure many others) am my wit's end to figure out a way to get past this very low spot and dark time in our country's history. I am ready to throw my arms up and just quit worrying about it all completely, move into the wilderness (if there is any of it left) and become a hermit. Quitting the technological world might be hard at first, but after awhile, it probably won't be much of a problem.

[DFW]

1. That has its perils, too

If banks are run by government bureaucrats, they quickly fall into a "I'm the law here, and if I don't care
it's your tough luck" frame of mind. It happened in France in the first years under Mitterand. Better the
bank employees have something to fear if they treat the public badly. What we need is a tight banking regulatory
agency to make sure the top guys ALSO have just as much to fear if they treat the public and the bank badly.

Incentive, a free market phenomenon, is still the best motivator for good behavior. Just make sure there are
incentives against corruption and arrogant greed. THAT is what has been lacking up to now. A teller that tells
a customer at the counter he or she should fuck off gets fired. A bank manager or president who tells the whole
world to fuck off, including all stockholders, should suffer the same fate, and get booted out of the building
on his or her ass with no further compensation--just like the teller who acted the same way toward some poor customer
at the counter who couldn't figure out how to fill out a deposit slip.

[ChillbertKChesterton]

3. It could stabalize the financial system to avoid future catastrophes

but ultimately serve the same ends that the financial system does now. The financial system serves the arbitrary whims of Capital, and so does the political system, but the government is more stable than the markets. If you nationalized the banks, we would end up with a financial system that is "leaner and meaner", more capable of effectively serving the unconscious desires of Capital while avoiding financial collapses that threaten to crack the framework.

[RKP5637]

4. +1000 +++ n/t

[tama]

8. Those who control

the amount of money in the market, control all politics.

If there is to be democracy worth the name, creation of money and banking system need to be under public control, and work for the public good.

[RKP5637]

2. I would think it would help, but we have a bought/bribed political system and

none are interesting in cutting off their perks and funding. I'm beginning to think those in power, all parties/monies are now in it for themselves and grasping what they can 'till the system folds. They just haven't told the masses yet. I'm not so sure this runaway freight train can be reined in anymore. And then one has all of the global implications.

I know what you mean about "just quit worrying about it all completely, move into the wilderness (if there is any of it left) and become a hermit." The problem is you won't be left alone, the system IMO has too many long and reaching tentacles. Also, then, one has played into what they want, to be submissive to the system as it leaches the life out of democracy.

[CurtEastPoint]

5. From what I recall, Canada banks had NO problems like ours.

My guess is that their banks are either (1) nationalized (which I don't think they are) or (2) Canada has a rigorous regulatory climate run by agencies that DO THEIR JOBS!

[banned from Kos]

10. Canada's banks are private and very successful

I have Royal Bank branches around me in Atlanta.

Canada has some very anti-consumer regs (like recourse on failed mortgages - they can take your OTHER property to pay your balance)

[Major Nikon]

6. I'm all for nationalizing natural resources and public safety interests

But, I'm more for stronger anti-trust legislation in the banking industry. Once you allow banks (or anyone else) to infiltrate every aspect of the financial system, you are setting yourself up for failure.

[Turbineguy]

7. That was the point of Glass-Steagal

Well, almost. It wasn't perfect. But what we know now should enable the US to craft a set of rules that will work. There are plenty of banks who weathered the storm because they were careful to control their risks. These banks should be involved in the process.

[ixion]

9. only if you fixed the rampant corruption problem first

otherwise it wouldn't do diddley.

[Riftaxe]

11. Just what we need, a financial system based on politics

...Whatever could go wrong with that?

[provis99]

12. what we need is a government run bank.

Keep the rotten private sector banks, but have a government owned bank to compete with them, and keep them competitive and honest. North Dakota has such a government owned bank, and it works quite well.

Failing that, we should get rid of the privately owned Federal Reserve system, and have a central government bank overseeing the economy, like the Bank of England or Bank of Canada do in their countries.

[customerserviceguy]

13. Not for it

but we're devolving into a place where only five or six banks will exist. If you want to take it over, then wait until it's an easier job to accomplish.