Andrew Sullivan Believes Stress Tests Will Lead to Nationalization of the Banks

On The Chris Matthews Show Andrew Sullivan believes these stress tests will lead to nationalization of the banks. He follows up on what was discussed here:
http://videocafe.crooksandliars.com/heather/simon-johnson-bill-moyers-journal...
which is one of the best interviews about what should be done to get us out of this economic abyss.

Category:

News & Politics

Tags:

• Chris
• Matthews
• Show
• Andres
• Sullivan
• Stress
• Tests
• Banks
• Nationalization

[anner442]

Stupid clip-doesn't explain anything...dumb

[heathr456]

This clip is part of a blog post that's not on You Tube related to another blog post that's not on You Tube either.

[waltermh111]

we are the government as long as we choose to be involved. Its when we give up that we lose it completely.

I am not a conspiracy theorist of the NWO. No point in living if its real and I have no control over anything.

So, when I say we take control, I mean we back it with something and not just give it an arbitrary value that we and other countries only trust based on credit and not physical luxurues that all countries have an interest in at all times.

[hippieCy08]

that's an interesting way of looking @ it.

May I ask how we can take control of our currency...when by definition government has to play a role in regulating it in the global market....aka china's currency v. Japan v. Euro v. US dollar?

[waltermh111]

Not that new. As soon as we started giving banks money people have been talking about this path.

How could they not. Gov invests heavily in future of banks, basically part owners, very few paths to take from there

[waltermh111]

Well, modern banks by their nature are failures because money is their first priority.

They have no product except money, so its always somebody losing, no equal give and take, interest, which is never enough for us to be worth anything, is our only gain, but interest paid to them is always much more.

They become desperate to take in more money until they accept worse/more loans then they can handle.

We need to drop the fed and take control of our own currency.

[hippieCy08]

I'm suspicious when conservatives call for nationalizing banks....its a way for the tax payers to pick up the tabs for Banks who should fail on their own instead of rewarding their pathetic inability to maintain cost effective investments....not 2 mention overselling mortgages....they can't even trace back for payments.

[bennygale]

James Galbraith interviewed by Amy Goodman at Democracy Now has the most crystal clear explanation of the banks circumstances. They are insolvent. Nouriel Roubini says the same, so does Joseph Stiglitz.

Galbraith uses the word fraud to describe activities of the banks. So does Michael Hudson. So does William K Black.

The Treasury must conduct meticulous audits of the banks.

Is that what is meant 'Stress test'? I hope so.

[tsuboimachi]

I thought I was up on the debate but now, all of a sudden, everyone is talking about the inevitable nationalization of the banks. That was a quick ride!

[valgehiir]

anner442, sullivan says out loud the thing that nobody wants to say - failing us banks will be nationalized. how is this a stupid clip? watching this from europe.. I know this will affect me