VoyForums
[ Show ]
Support VoyForums
[ Shrink ]
VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, 3, [4] ]

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 06:23:40 02/16/09 Mon
Author: pastor lewis
Subject: Republican Sen. Lindsey Graham of South Carolina open to "nationalizing the banks

Republican Sen. Lindsey Graham of South Carolina of the Senate Budget Committee said today on "This Week" that he is open to "nationalizing the banks."

"I think if you put most of our major banks under a 'stress test,' they're going to fail," Graham told me.

"This idea of nationalizing bank is not comfortable but I think we have got so many toxic assets spread throughout the banking and financial community throughout the world that we're going to have to do something that no one ever envisioned a year ago, no one likes," he said.

"To me banking and housing are the root cause of this program," Graham said. "I would not take off [the table] the idea of nationalizing the banks."

However Democratic Sen. Chuck Schumer of New York argued against nationalizing the nation's banks.

"You can have a big, bold plan without nationalization," Schumer said.

Graham argued the nation's banking and housing crisis will need far more than the $50-billion President Obama's administration has pledged to combat home foreclosures.

Graham estimated the nation will need to spend another half a trillion to fix the banking and housing crisis.

"$350-billion left in the TARP is not even close to fix housing and banking," Graham said.

--George Stephanopoulos

[ Next Thread | Previous Thread | Next Message | Previous Message ]
[ Contact Forum Admin ]

Forum timezone: GMT-8
VF Version: 3.00b, ConfDB:
Before posting please read our privacy policy.
VoyForums(tm) is a Free Service from Voyager Info-Systems.
Copyright © 1998-2019 Voyager Info-Systems. All Rights Reserved.