Graham Open to Nationalizing Banks

Sen. Lindsey Graham (R-S.C.) said this morning on ABC’s “This Week” that he is open to nationalizing the country’s banks.

From ABC:

“I think if you put most of our major banks under a ‘stress test,’ they’re going to fail,” Graham told me.

“This idea of nationalizing bank is not comfortable but I think we have got so many toxic assets spread throughout the banking and financial community throughout the world that we’re going to have to do something that no one ever envisioned a year ago, no one likes,” he said.

“To me banking and housing are the root cause of this program,” Graham said. “I would not take off [the table] the idea of nationalizing the banks.”

Check out the video below, from Talking Points Memo: