GOOD FOR LINDSEY

I'm sure some of the radio wingnuts, like Mark Levin, will also want Graham purged from the GOP, so I have to give him credit for being rational.

Sen. Graham defends view on nationalizing banks
Graham: Ignoring possibility is irresponsible.
By Jim Morrill
jmorrill@charlotteobserver.com
Posted: Tuesday, Feb. 17, 2009

Despite criticism from fellow Republicans, U.S. Sen. Lindsey Graham of South Carolina Monday defended his statement that the U.S. should consider nationalizing some banks.

“Politicians are worried about words,” he said Monday. “I'm worried about outcomes.”

Graham said the government has already poured billions into banks with little to show for the economy. Bank of America, which has received $45 billion in bailout money, is currently worth $27 billion in market capitalization.

“The truth is we've put more money into the Bank of America than it's worth,” Graham said. “That's not nationalization. That's just stupid.”

“It would be smarter from a taxpayer point of view to take them over and make them (successful) than it would be just to sit back and write checks or let them fail,” Graham said. “We need to cut our losses.”

Graham said nationalization – or at least a form of it – is just an option.

“It's not responsible to take options off the table that might work,” he said. “I never suggested that the government take over every bank in America. I did say it might be better in some cases to take over a bank and restructure it.”