Holy moly!  You know we are in trouble when a Repub like Graham is taking about it seriously!  Go figure!

A year ago, it would have been unthinkable: Sen. Lindsey Graham advocating a government takeover of private banks — but that is exactly what he suggested today.

“I would not take off the idea of nationalizing the banks” from the table, Graham, R-S.C., told George Stephanopoulos on ABC’s “This Week” program

“This idea of nationalizing banks is not comfortable, but I think we have gotten so many toxic assets spread throughout the banking and financial community throughout the world that we’re going to have to do something that no one ever envisioned a year ago, no one likes,” Graham said. “But, to me, banking and housing are the root cause of this problem. And I’m very much afraid that any program to salvage the bank is going to require the government..”

But some prominent economists, including Nobel prize winner Paul Krugman, say nationalization is the only way out of the out of the current financial crisis, given that the nation’s largest banks are now carrying a crushing half a trillion dollars in bad debt.

But they may have to find another name for it.

My favorite one is “pre-privatization”.  Not as ideological as “nationalization”.  That would make the Repubs happy.  Let’s watch and see how they spin this idea…..time is waning…something must be done…I mean besides helping the banks capitalize or buy other banks.