Reply #29: Is there a progressive way to resolve "toxic assets"?

[Uzybone]

the only alternative I've seen is nationalize the banks and assume the debt. Is that progressive? I don't know if this plan is progressive or not, I just want the damn thing to work.

Obama s budget and priorities tells me that he is not looking to take us back to status quo once this crisis is resolved. But I think right now the priority is to loosen up credit, not to seek to score political points. If he fails at this, then all us progressives can kiss all our other dreams goodbye for a long time.