16
Feb
09

Hang On A Sec…

From Ben Smith’s blog on Politico:

Yes, that’s Lindsay Graham, on “This Week with George Stephanopolous” today:

“Yes, this idea of nationalizing banks is not comfortable, but I think we have gotten 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, but, to me, banking and housing are the root cause of this problem.

And I’m very much afraid that any program to salvage the bank is going to require the government. …”

Stephanopolous interrupted to ask what he would do now, and Graham replied: “I would not take off the idea of nationalizing the banks.”

Later Chuck Schumer, tacking to Graham’s right, cautioned:

“Let me just say this. George Bush, a very conservative president, had more government intervention in the financial system than any president in history. But I would not be for nationalizing. I think government’s not good at making these decisions as to who gets loans and how this happens.”

And Lindsey Graham is the South Carolina Republican who voted against the stimulus, saying there was too much money for increasing the size of government and pet legislative projects, right? And Schumer’s the hippie socialist-type who, in mid-January, was “very interested” in a Wall Street bailout that would have the US acquire toxic assets from troubled financial firms and sequester them in a government-owned “bad bank.”

Have we argued so much about the stimulus and the TARP that we’ve switched sides?

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