Mariner, be careful when you accuse someone of knowing nothing. Especially when you don’t stop there but continue to give your own little tirade – you opened yourself up for everyone to see your own ignorance.
1) Economists in colleges are bi-partisan? I took a few economics courses myself (in a real college in case you were wondering) and my first professor announced that he is a communist. He is also a respected economist who holds a PhD and publishes frequently and who is allowed to sit in on open market operations. My other professors were not as extreme in their political views, but none of them were even centrists, let alone right leaning (or bi-partisan – itself a ridiculous assertion)
2) Taking banks out of the free market is indeed idiotic, but that is what this bill does. So you confused my statement of the facts for a statement of opinion of what should be done. I also don’t know what you mean by saying that a socialized bank means that the governement decides who gets money. Do you mean who gets to borrow? Or who gets to access my savings?
3) “The stupidest thing I have heard on this site ever” is a very far-out assertion, and I doubt that you meant that even in your moment of blind rage. Not to mention that I never even said what you were thinking.
4) The biggest are falling? Are you sure? Ever heard of JP Morgan? Citigroup? Bank of America? Those are the banks that are left standing, and they will absorb all of the smaller banks as they fail or come close to failing. On the investment banking side, there is Goldman Sachs. These institutions are coming dangerously close to becoming government entities or extensions of the government themselves. Especially Goldman. So which “big one” failed? Washington Mutual? The biggest thrift is by no means a big bank. Wachovia? Give me some names, please.
5) Do you work for a little bank? Your last statement seemed to indicate such. Sounds like a PR line for a mid size bank. But unfortunately, only the real mom and pop banks that were too small to get involved in CDOs and CDSs and other SIVs are going to be safe. And only the biggest ones (like the 3 I mentioned) are going to be big enough (or made big enough by our tax money) to survive.
In the future, please just ask for information. I am always happy to share my knowledge. Just don’t attack. Especially not without cause.