Who Wants to Take Over the Banks?

This isn't exactly news but I am still impressed by how broad-based is the support for nationalizing the banks. I mean, no surprise that you've got Nouriel Raoubini and Paul Krugman. But then there's Alan Greenspan and Lindsay Graham. And John Makin from the American Enterprise Institute, of all places (and Underbelly too, now that we think of i: link, link).

Notables not on board include the President, and the Democrats' Congressional Finance Pointmen: Barney Frank and Tom Dodd. This makes sense, I suppose. It is hard to believe ethat Barney Frank would resist the opportunity to run a bank if it presented itself, but I suppose he understands that his embrace could queer the deal, and that he's much btter off letting the likes of Greesnspan and Graham carry the water.

Afterthought: But I still don't see why it needs to be a total takeover. Take preferred stock--just not the kind of funny money fake preferred we weighed in for at the time of the Fannie Freddie deal last year.