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 Post subject: New Poll Reveals 56 Percent Of Americans Favor Bank National
PostPosted: Sun Mar 08, 2009 12:22 pm 
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New Poll Reveals 56 Percent Of Americans Favor Bank Nationalization

A new Newsweek poll finds that 72 percent of Americans have a favorable opinion of President Obama, 58 percent approve of the job he is doing, and 65 percent are very or somewhat confident that he will be successful in turning the economy around.

The poll also contains the interesting and “somewhat surprising” finding that a majority of the American public supports nationalizing the banks:

11. Temporary nationalization is another way for the federal government to deal with large banks in danger of failing. This is where the government takes over a failing bank, cleans its balance sheets, and then quickly sells it off. In general, which do YOU think is the better way to deal with failing banks…

29 Government financial aid WITHOUT any government control of the bank, OR
56 Nationalization, where the government takes temporary control?
11 Neither/Other (VOL.)
4 (DO NOT READ) Don’t know

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.

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 Post subject: Re: New Poll Reveals 56 Percent Of Americans Favor Bank National
PostPosted: Sun Mar 08, 2009 7:02 pm 
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Catherine wrote:
. . . 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.

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