Nancy Pelosi: "Nationalizing" Banks Is Simply "Semantics"
The Speaker of the House Nancy Pelosi, while speaking to reporters, said that the discussion over the federal government's latest moves to prop up the banks is simply "semantics." She also said that any positions in the banks held by the government will be transitional.
The movement towards nationalizing the banking industry, or part of the banking industry, has been gaining steam of late. Last Sunday, Nouriel Roubini, Paul Krugman and George Will, appearing on a panel on ABC's "This Week," all expressed either support for the idea or resignation that it was already occurring.
A week ago senior Republicans Senator Lindsey Graham (SC) and Representative Peter King (NY) stated that nationalization of the banks must remain an option.
Federal Reserve chairman Ben Bernanke, meanwhile, has pushed back against wholesale nationalization of the banking industry.
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