Thursday, February 19, 2009

Senator Graham May Support Nationalizing Banks

One Oar in the Water: Senator Graham May Support Nationalizing Banks

Senator Graham may support nationalizing banks; by Anthony G. Martin; Columbia Conservative Examiner; February 18, 2009.

In a troubling development, South Carolina Senator Lindsey Graham says he may support the nationalization of U.S. banks.

In a special report in the Financial Times of London, the suggestion is made that since Graham and a small handful of other Republicans may get on board with this plan, Republicans must therefore be changing their minds toward the subject of nationalization.

Nothing could be further from the truth. And the article fails to mention that those Republicans in Congress who are vehemently opposed to nationalization far outnumber the few who support it.

As one of the central features of Socialism, 'nationalization' refers to government ownership and control of what once was considered private enterprise. With the current economic crisis in the U.S., the calls for Socialism in the form of the nationalization of private business have been mounting.

The thing that is odd, however, is that some of those voices, although not a majority, are Republican.

Our own senior Senator, Lindsey Graham, has told several news outlets since Sunday that the concept of nationalizing the banks is 'definitely something that should be on the table.'

Apparently Graham likes the notion of 'the Swedish plan,' which involves government seizure of troubled banks, taking steps to make them solvent, and then auctioning the banks to private investors once they are stabilized.

Barack Obama also supports this plan.

I remember a time in America when Republicans would be dead-set against any such plan. As staunch defenders of private enterprise who advocated a limited role of government in society, Republicans would view any plan to socialize any American business as heresy.

It is truly unfortunate that some within the GOP have strayed so far away from the foundational principles of the Party. It is even more unfortunate that one of our own Senators is one of them.

Read the rest of the article here.

Comment: One point I disagree with the author over is that "some within the GOP have strayed." The truth of the matter is that the whole dam party has swung over to the left, and many are openly socialist.

1 comment:

Anonymous said...

As Coulter said, "We can reclaim the Republican Party."

The only difficult thing seems to be that we can't do that AND win elections.