CNN has broken into CNN International

[nadinbrzezinski]

And yes we are talking of recapitalization of banks at a global coordinated level... translation... world wide nationalization of banks

[Doctor Cynic]

1. Bankers of the world, unite! You have nothing to lose but your credibility!

[nadinbrzezinski]

2. The free marketeer on right now is scary

he sounds like Hoover

[Birthmark]

3. Yeah, but you gotta love an anachronism, don't you?

[nadinbrzezinski]

4. I wish any of the hosts reminded him on how guv'ment was ineffective

in the depression

It is a religion

[Birthmark]

7. I just hope that Obama...

...has a New Deal in the works. I have a hunch that we're going to need all the public works projects that we can get.

[nadinbrzezinski]

10. The last week, the speeches he has mentioned

the major programs of the new deal without using the familiar acronyms

So I suspect they do

[Birthmark]

11. It's interesting.

I've been worried for the last four years that all of this was going to occur. Now it seems to be happening. Yet I'm still shocked.

We humans are strange.

[nadinbrzezinski]

13. Welcome to the Cassandra club...

now telling people I TOLD YOU SO kind of sucks

[Birthmark]

14. Yeah, it does.

Not very useful, either.

[girl gone mad]

5. Jim Rogers is brilliant.

But of course, I'm sure you know better. You were so right about the bailout.

[NeoTheo]

9. Oh as far as I am concerned

that was gone decades ago.

[Waiting For Everyman]

6. If they don't reform the debt terms here (and elsewhere I'm sure too)

I think they're going to see an even more widespread debt-revolt, or boycott. Those not hit by the mortgages, are hit by credit cards, student loans, and car loans. It has all become NONSENSE. Impractical, unrealistic bullshit. Wages do not support what they're demanding anymore.

And the banks' level of profits is not necessary without the cost of THEM in it.

The game's up. It's time for the ultra-rich to take their billions and call it a day... until the world recovers for a while, and then I'm sure they'll be back.

[nadinbrzezinski]

8. The world, from listening to this, has two choices

friedman kookiness, that got us here... or a wide lurch to the left

And it is lurching.... this is seismic.

And you know that when the hosts of CNN I confront the free marketeer, though not very well, but still confront

[lligrd]

12. Fear In The Streets?

Funny. I'm not scared, saddened yes, but not scared. I guess I've been scared out. I've been expecting this and worse. The worse is probably still to come.

[nadinbrzezinski]

15. It will either be bad or really bad

depends on how fast they act to do things that need doing... and that until now they have not done

The way folks are starting to talk I hope for the bad

[lligrd]

18. Me Too. But Think That Is Probably Wishful Thinking

considering those in charge. On the plus side, this will make it a hell of a lot harder for them to steal the election. On the minus side, who would want to win this prize?

[nadinbrzezinski]

19. I have the sneaky that bush is no longer in charge

serious....

Can't prove it... but... I think he's deferred to others. Why we don't see mister confidence :sarcasm: too much either

[lligrd]

20. * Never Was In Charge Really. nt

[Waiting For Everyman]

16. The governments need to forget about saving banks

and concentrate on saving the middle class and businesses. They're pouring too much lost money into these banks themselves.

[nadinbrzezinski]

17. They need to do this in order to get the commercial loans flowing

that is why they are doing that

And this does not mean every bank will be saved either.

By the way, we did that in the New Deal

[Douglas Carpenter]

21. a rash of bank failures would cause people to withdraw their money from accounts and

the investment instruments that support lending and and the result would be to freeze credit much more than it is already.

Businesses large and small, municipal governments and even charities depend on the regular availability of credit for their survival.

Every significant bank collapse greatly reduces the availability of credit and causes a withdraw of money for the lending that is necessary to keep the economy from grinding to a halt.

Failing to prevent a long string of bank collapses absolutely, positively, 100% guarantees - beyond any shadow of a doubt - a long and deep paralyzing depression and the casting of countless millions, perhaps hundreds of millions of ordinary people all over the world into absolutely desperate poverty.