Tuesday, February 17, 2009

Lindsey Graham, Senator from Sweden?

U.S. Sen. Lindsey Graham, aka Grahamnesty, has fully succumbed to Potomac Fever.
Lindsey Graham, the Republican senator for South Carolina, says that many of his colleagues, including John McCain, the defeated presidential candidate, agree with his view that nationalisation of some banks should be “on the table”.
...

“You should not get caught up on a word [nationalisation],” he told the Financial Times in an interview. “I would argue that we cannot be ideologically a little bit pregnant. It doesn’t matter what you call it, but we can’t keep on funding these zombie banks [without gaining public control]. That’s what the Japanese did.”

Barack Obama, the president, who has tried to avoid panicking lawmakers and markets by entertaining the idea, has moved more towards what he calls the “Swedish model” – an approach backed strongly by Mr Graham. In the early 1990s Sweden nationalised its banking sector then auctioned banks having cleaned up balance sheets. “In limited circumstances the Swedish model makes sense for the US,” says Mr Graham.

Yah, suure ...

Since when did real Americans advocate any Swedish public policy?

And, senator, we are not just "a little bit pregnant." Another report says that 400 banks, including the Top 20 in the U.S., in 47 states have accepted federal "help." Which means federal strings. Like the new requirement that banks accepting federal money cannot raise their singular or collective voices against pending legislation like the "card check" that would empower labor unions by eliminating the secret ballot to determine whether employees unionize a particular firm.

But Lindsey Graham wants to be loved. He trots after John McCain like a faithful collie, and he can warp the space/time continuum to position himself in front of TV cameras and microphones. Pathetic.

The country pays the price.


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