"I would not take off the idea of nationalizing the banks" from the table, Graham, R-S.C., told George Stephanopoulos on ABC's "This Week" programSen. Graham insists he only meant a few banks not all of them. He also added the federal takeover of a few banks would only be to "restructure" them.
"This idea of nationalizing banks is not comfortable, but I think we have gotten 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," Graham said. "But, to me, banking and housing are the root cause of this problem. And I'm very much afraid that any program to salvage the bank is going to require the government.."
Apparently Sen. Graham has no idea what socialism is. It doesn't matter if the government takes over one bank or all of them it's still socialism. Take for instance China a country that allows some private investment but the central government still controls the means. It's still socialism my dear.
What does "restructure" even mean? Isn't that the same thing as redistribute? Alas, only in the Republican Fantasy World can someone get away with such wordage and still not be a socialist.