Will Obama's administration set up a government run bank ?

Wow...a government owned bank. Will it be called the Government Reserve?

A flag was raised stating:
How will this settle if he creates a new national bank by nationalizing one or more failing private ones and not through the "whole cloth" creation of a new bank?

I think it will be clear enough it there is a bank created either by nationalizing one bank and drawing all other troubled bank under it's control, or by creating a new 'national' bank to absorb the failing banks.

Settlement may not be as difficult as it may seem.

Interesting article on this
http://tpmcafe.talkingpointsmemo.com/2009/01/24/the_banks_have_stolen_enough_its_time_to_take_them/

When a borrower goes to a bank to buy, say, a house, and the borrower cannot pay back the money, the bank forecloses on the borrower.

When a bank goes to a government for money, and unable to pay back, why should the government lend them more money? Especially with the news reports that they paid out huge bonuses for their 'success' while taking public money. If they can't be competitive, they should be out of business like everyone else.

i started a question on your concerns rk as i started this one but in my opinion it was erroneously voided it concerned the greed of the bankers

government owned bank=government national bailout bank

http://www.washingtonpost.com/wp-dyn/content/article/2009/02/10/AR2009021003583.html?hpid=topnews

there is some good news among banks....interesting how successful this little bank is with common sense and good executives

http://www.nytimes.com/2009/02/11/us/politics/11citi.html

and then there are the greedy ones coming back!!!! what the hell is Obama and his "advisors" thinking?

not only obama but bush has screwed the public with this so called crisis. its gonna make the govt way to big for my liking. obama had a cough..gag..decent..cough..gag..press conference except when he used fear to try and sell this stimulus deal. imho prez's shouldn't do that. if your the average joe and you see the prez saying the sky is falling does that instill confindence in you to spend money? i thought about selling my PC so i could buy food next week after hearing him. then i decided i would go hungry so i could play on HD. :O)

Yeah, you know how much money a TRILLION dollars is? If you were to spend 1 dollar per second, it would take almost 32,000 years to spend that much. This is definitely a case where the "cure" was/is worse than the "symptoms"

Bank Nationalization Gains Ground with Republicans
By Edward Luce & Krishna Guha | The Financial Times
February 17, 2009

Nationalization, long regarded in Washington as a folly of Europeans, is gaining rapid ground among US opinion-formers. Stranger still, many of those talking about federal ownership of banks are Republicans. Lindsey Graham, a Republican senator for South Carolina, said that many of his colleagues, including John McCain, the defeated presidential candidate, agreed with his view that nationalisation of some banks should be “on the table”.

Mr Graham said that people across the US accepted his argument that it was untenable to keep throwing good money after bad into institutions such as Citigroup and Bank of America, which now have a lower net value than the amount of public funds they have received.

http://www.ft.com/cms/s/0/2ad3b750-fd27-11dd-a103-000077b07658.html

"When buying and selling are controlled by legislation, the first things to be bought and sold are legislators." - P. J. O'Rourke

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."
Thomas Jefferson, (Attributed)