Should we nationalize the banks

@aidnul (111)
United States
March 6, 2009 9:37am CST
With the economy crisis that we are facing today, everyone is wondering what to do and each person has a theory to offer. With the stimulus plan introduced by President Obama, more money will be given to the banks as was done last year towards the end of the year. This tactic did not work last time. Will it work this time? Some think that the banks should be nationalized and regulated by the government in order to avoid and control the misuse of resources that our bankers have practiced it the past years. What do you think? Is this socialism? Should the nationalizing of the bank be permanent as some propose or temporary as others think it should be?
1 person likes this
2 responses
@asmurthy (2464)
• India
6 Mar 09
Banks should not be nationalized. USA means free enterprise. Such an action would certainly prove costly for the government. But analysts warn that it would also wipe out common shareholders' existing stake and effectively close the door to private investors such as leveraged buyout firms and hedge funds.
• Portugal
6 Mar 09
I think they should nationalized, or at least the should be one nationalized or more banks in each country. And the banks that dont make it on their own, and that need the goverment help, they also should nationalized. Do you think the taz payers should pay for the mistakes of other people and dont get nothing in return. If the bank is nationalized the profits of the bank, when they happen go to the goverment, and that money can be used to make a better country. If in the other hand the goverment just injects money, and does not get anything in return, we are lossing in eery way. that is what i think.
@aidnul (111)
• United States
7 Mar 09
Definitely it is not fair to take our tax money and continuously dump into into the bank system when they keep on misusing it. It is true that nationalizing them would prevent that from happening, hopefully. However, if the gov't take on the banks, although it will regulate it and benefit in the long run, at first the national deficit that we have right now will be even greater, because the gov't is taking on those deficits from the banks. Also there are several countries who have nationalized their banks and have profited from that. If the US does nationalize the banks however, should it be temporary? Permanent? Would that be a crime against capitalism?