Banks- Nationalize Yes, says a 'publican( update 2-24)

HE Y

I didn't say it.

Sen. Lindsey Graham R-S.C., told George Stephanopoulos on ABC's "This Week", ""I would not take off the idea of nationalizing the banks" from the table."

There. A Republican actually said it.

And that's the Answer.

The answer to Both The Banking Crisis, AND the Automobile companies.

BOTH the banks and our current AUTO industry need to be NATIONALIZED. (I say).

Both industries suffer from:

1. Lack of Customer Trust.
2. A Lack of products that are salable to CURRENT consumer demands.
3. A problem in developing NEW products that are ETHICAL.
4. A lack of forward thinking,

And most importantly, A lack of customers willing or able to use their goods/services.

Auto Industry:

• Poor forward looking (green) planning. Future planning equaled larger and more gas guzzling products.
• Over production of automobiles, based on over-consumption.
• Poor business practices.
• Overly dependent on questionable (long term) business practices (zero percentage financing, leasing, etc).
• Production goals company focused, not country (or world, or ethically) focused.
• Continued insistence of lack of responsibility for current crisis.
  

Financial Industry:

• Unethical product development, and inappropriate marketing to inappropriate customers.
• "slice and dice" of traditional mortgages into 'dicey' financial instruments
• Unethical (fraudulent) "insurance suitability" scandals, originators paid for insurance ratings.
• Refusal of management to admit culpability.
• Continued insistence of lack of responsibility for current crisis..
  

MORE to come...


Here's the deal. We NEED to remove all collateralized debts from the financial system.

I said HERE WHY we need to remove these debt bombs from our society.