. . . It appears that the Obama administration has thus far resisted nationalizing the banks because it views that option as not politically viable. Obama has argued “America’s different” than other countries which have embraced nationalization.Two thoughts come to mind:
1) What makes us "different" is that many politicians depend on money from these banks to be elected. Another complication is the mixing of investment bankers, stockbrokerage firms and traditional banking into single monolithic entities. Where stockbrokers can and should be allowed to fail, the fact is that main street depositors cannot be allowed to lose their money.
2) Why is everyone deaf to Dennis Kucinich's idea of nationalizing the Federal Reserve. They have failed to regulate and it IS the proper role of government to regulate.