I'm sitting here wondering - why aren't all of our banks nationalized?

[ThomWV]

I mean, what the fuck? Why isn't the banking system just another Agency of Government tasked with safeguarding deposits and paying a reasonable interest on them, making loans to businesses and individuals, and collecting with a fucking vengeance when payment time comes? No reason for profit to exist in the system and a straight forward formulaic system for loan approval - completely in the open and with all records of every transaction public information. Why not?

By this way, I understand what Republican reaction to such a suggestion would be.

[ColbertWatcher]

1. The one thing it would do is ...

... stop loan officials from being turning down people for BWB or BWG.

(Banking While Black or Banking While Gay)

[Aragorn]

2. because...

as everyone knows, the private system is more efficient.

See, a government bureaucracy would have no motivation such as profit and loss to make them give a damn. Why, a government bank could just do whatever they want and then stick it to the taxpayers.

See?

[panader0]

3. Let's throw in the health care industry and oil too!

[sicksicksick_N_tired]

4. 1) isn't that what's happening; 2) why not nationalize something with substance, like oil?

Why nationalize notes rather than resources?
:shrug:
Let the private greedy fucks rise and fall on notes while the American people actually benefit off their REAL resources!!!

[glowing]

5. Banks should not be nationalized.. but the Treasury should.

[AlCzervik]

6. aig wasn't a a bank, it was an insurer and it did some money money managing

all the shit that went down this was Investment houses besides WAMU and investments houses don't have their risk regulated.

Imo there has to be some regulation on risk, a certain amount of liquidity in house all the time.

[roamer65]

7. I have no problem with nationalization of banks, healthcare, oil and insurance.

These are necessary companies for everyday living. They should not be trusted to the privateers. If we do not nationalize them, you will see these large scale bailouts about every 10-20 years due to speculation.