The Demise of Private Banking: A Bipartisan Consensus

In this roundtable segment on ABC’s “This Week with George Stephanopoulos,” the two Democrats express their usual contentment with a market interventionist approach to “fixing” banks. The most shocking moment, however, is when Republican Senator Lindsey Graham declares that he would be open to “nationalizing the banks.” Watch the reaction of the other individuals at the table – even Senator Charles Schumer feels that nationalization is too extreme.

You know that something is wrong when a respected Republican senator needs to be lectured by Chuck Schumer on the negative economic implications of excessive government interference in the free market.

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