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Originally Posted by pgardn
Why has the stock market fallen so much as politicians have talked about nationalizing the banks? If this was such a wonderful way of fixing credit markets, wouldn’t you think that stocks would go up?
No.
Not until the government organizes and
gets out.
Where have you found that Obama has said he plans
to run the banks, and keep the banks in government control?
Where? I have not found it yet...
stop it with the silly stuff.
You can call it Nationalizing or whatever. But the degree
to which the govt. takes control, manages, and for how long
are the real issues.
Just say we should let the banks fail and watch the market.
It will dive. But imo it will come back. Is there a middle ground?
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Let me explain this because you seem to have a problem forming independent thoughts.
If the govt "nationalizes" banks, who exactly is going to run them? Please tell me this. Who will be in charge and who will they have to answer to?
Let me ask another question. If the "nationalization" plan actually works out (which is almost an impossibility) why would the govt then give up control regardless of which party is in charge? Can you actually say with a straight face that Congress is going to give a successful bank back? Why would they?
If it doesnt work (which is lke a 99.9% chance) then who exactly is going to want them especially with the draconian rules that will surely be drafted?
What is Obama SUPPOSED to say? Yeah we are taking over the Banking business and probably going to keep it? Hell when Chris Dodd said it the market went into a freefall and his word is far less meaningful than Obama's.
The market is falling regardless. The worry is what happens in the future if the govt gets into the banking business. You may want to call it rightwing paranoia but why wouldn't govt banks be just another cog in the giant political machine? Politics cost all of us. There is a reason that the Fed Reserve is supposed to be apolitical.