An influential Republican Senator is warm to the idea:
Republican Senator Lindsey Graham, who sits on the Senate Budget Committee, said he wouldn’t reject the idea of nationalizing U.S. banks.
“I’m very much afraid that any program to salvage the banks is going to require the government,” the South Carolina senator said today in an interview on ABC’s “This Week” program. “I would not take off the idea of the nationalizing the banks.”
Some of the country's major banks are in such trouble that this may be the only way they can survive. Given the amount of money that has already been injected into the economy, it may be that these banks have already been effectively nationalized.
