If we were to nationalize all banks in the US, would it cost more or less than $700 B?

[Taverner]

Nationalization is no cheap affair. First you have to pay any unsettled debts, and then you have to restructure. On top of that you have to change the systems the bank depends on.

And last, and of course least, you have to change the stationary.

But how much would it cost?

[robinlynne]

1. And why not just buy all the empty houses instead of the banks, and rent them

at a reasonable rate or sell them at a reasonable rate to Americans?
minus the huge profit the banks wanted with their mortgaging, of course...

[Taverner]

6. I like it - Hybrid Capitalism Socialism

[kentuck]

2. I heard somewhere that the total assets would be $14.2 trillion dollars..

and $700 billion would be 5% of the total.

[Taverner]

5. Sounds like a nice healthy down payment then

[JackRiddler]

3. Not if you let the whole thing meet its well-deserved failure first...

Then step in with a dollar reboot from a new national bank.

As with each prior bubble and artificial pump operation, the bailout -- the purchase of bad securities by the government, dispensing $700 billion to the same bettors who will continue gambling it -- will only guarantee the crash is more complete in the end.

[Taverner]

4. Congratulations! You just decimated the US Economy.

No we need to step in now while there's still a there there

[JackRiddler]

7. No, sir. The banks just did that....

and you think pouring water on the smouldering embers of the temple will help.

[Taverner]

8. Well we are going to need banks

Now whether that means we outright outlaw private banking (a good start) and make all banks government entities, or buy out the existing ones - its irrelevant.

We do need to take over the accounts of all the individuals who have accounts in banks right now. And the private banking system has shown they can't do that.