Obama Cannot Nationalize The Banks WITHOUT Congressional Approval

[Yavin4]

And, there is NO political will in the congress to approve a Nationalization plan, no matter how hard he worked congress. Also, nationalization would play right into the rightward meme that Obama is a socialist.

In addition, nationalizing AIG, Bank of America, and Citibank is not like nationalizing IndyMac nor the Swedish nor the Japanese banks. AIG, Citi, and BofA are larger, more complex international financing companies, and govt is not capable of managing these behemoths.


So, for Krugman and his fellow acolytes, first show me how you would get to 60 votes on any nationalization plan in the Senate. Second, lay out your plan as to how you would manage these financial behemoths.

Until you have a detailed plan for both, then your criticism is hollow at best.

[Kurt_and_Hunter]

1. Then he should resign

I am so sick of hearing about all the stuff Obama cannot do.

Boo hoo... congress is so mean.

Perhaps he should change congress' mind.

Y'know... that thing great presidents do? I heard something about it once.

The argument, offered a lot in GDP these days, that the most brilliant man in the world who also happens to be the most talented politician who ever lived cannot do anything because his party's large majorities in both houses of Congress aren't big enough... well, it would be comical under less serious circumstances.

Since Obama doesn't WANT to nationalize the troubled money center banks then it's a moot point.

[FrenchieCat]

3. I think this is what Obama DOESN'T want to do.

Why should he resign because he decided to do what he decided to do?

Why is everyone so superior to Obama these days? Is that just plain liberal arrogance?

[Yavin4]

5. You Need To Take A Civics Class

The presidency is a co-equal branch of the government. The presidency needs congressional approval to enact a nationalization plan.

[Kurt_and_Hunter]

8. Yeah, that's what I need alright.

[ProSense]

6. Or maybe people should quit spewing hyperbole

Your way isn't the only way

[Median Democrat]

7. I Agree, Bush Never Let Congress, Courts Or The Law Stop Him, He Got Things Done!

Totally agree with Kurt. Boo freakin hoo about Obama. He should take some macho lessons from George Bush.

Did he let Congress stop him? Nope. That is what signing statements are for.

Did he let the Courts stop him? Nope. The President has plenary authority in times of war.

Perhaps Obama should take up Dubya on his offer of advice. Great Presidents get things done.

:hide:

[CTLawGuy]

14. Obama should be more like Bush?

NT

[Igel]

18. Of course.

When * did it, it was bad because he was bad and using his power for bad things.

If Obama does it, it's good because he's good and using his power for good things.

In fact, I'm sure there are some who'd say that for Obama to be even better he'd have to be a kind of anti-uberbush.

[Uzybone]

10. How idiotic

[FrenchieCat]

2. And that's just the start of it.

He should use his political capital to nationalize the banks.... :sarcasm:

and then I guess we can say goodbye to anything else we wanted, cause he'll be teared on from that point on.

But at least everyone will be happy that the stock market goes to 4,000,
cause that's what would happen. One thing investors will shrink from big time
is the government being all up into everything.

Also, what happens if BofA needs to be nationalized, but Wells Fargo doesn't.
What affect would that have on each firm, and prospective investors?

[Yavin4]

4. Frenchie, The Dow Will Fall To 2000 and World Markets Would Tumble As Well

Why because three of the largest financial entities in human history would be run by inexperienced govt. bureaucrats.

[camera obscura]

9. Richard Shelby & Lindsey Graham have already stated their openness to nationalization.

How can we say that there is no will in congress to nationalize banks when the majority of our Senators haven't stated an opinion one way or another? I don't think that either Shelby or Graham are particularly independent-minded men. If they are open to it, I imagine there are other Republicans who are as well.

If we still couldn't bring about enough votes to take action, I would bring in the likes of both Greenspan and Roubini to explain to congress why this step needs to be taken.

[Uzybone]

11. LOL and you believe they will vote for it because.....

Because they always follow through on what they say right?

[camera obscura]

13. It sure makes more sense than "I KNOW they won't support it even if they say so, so don't even try".

[Yavin4]

16. Republicans Are Not Going To Support Obama No Matter What

Also, Evan Byah's gang of 15 won't support it either.

[Thrill]

17. And as soon as legislation is presented, they'll cry socialism

.

[AllentownJake]

12. Until you have a detailed plan to show us how to get Sadam's weapons of mass destruction

shut up.

[CTLawGuy]

15. so are you saying

the financial problem is not real, or is overblown, or is a red herring from the real problem?

If no, stop comparing it to Iraq.

[depakid]

19. Your assertions with respect to citi and B of A are simplty false

and quite frankly- this whole "we can't get 60 votes" business that crops up every time there's some decision or another one woild like to avoid simply strikes me a more spineless Democratic whinging.

[Two Americas]

20. right

We can't move to the Left, because the right wingers would accuse us of moving to the Left! Can't have that.

When we advocate anything even vaguely left wing, we must first have a detailed plan that will meet with everyone's nit-picking approval and be guaranteed to pass the Senate and not get criticized by the Republicans.

When we move to the right, we can just take wild stabs, call it "moderate" and "centrist" and "practical," and then pummel any and all opposition into submission. Accusing critics of "helping the Republicans" usually works, or else red-baiting and accusing them of being fringe radicals can be used as a back up.

Since there is no political will, could everyone stop trying to advocate for what is right in an attempt at building political will?

This is how we can claim to be supporting and advancing progressive causes, while at the same time bitterly fighting against progressive causes. Then the right wingers will soon be back in power, and we can comfort ourselves that we were "right" and the people were too stupid to understand that, and say that those damned left wingers are to blame. So then we move farther to the right, and repeat the cycle.


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