Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
I really see no reason not to nationalize banks, altho myself I would go for the chartered single national bank approach rather than some government entity. Lending has become so regulated and score-driven you could do it from a vending machine at this point. It also would put bankers out of over-speculation and creation of unicorns and fairies financial instruments. I would not want direct government ownership, the Congress would be passing laws every week directing who gets the loans, it would have to be totally independent, the profit motive would have to be totally removed, and its whole purpose clearly defined in a charter that could not be changed for some fixed term of years, and of course, I should be appointed president of this bank, to further my dream of replacing US dollars with the Nigerean Pound.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address