[Ghoulish Delight]

This American Life did another episode in its series of simplified explainers for the economic meltdown. This one specifically on how the banking industry works, what the collapse really looks like on paper, and the theories behind the competing proposals to try to reverse it.

This one didn't really impart any drastically new information to me, it pretty much reaffirmed what I already knew. But it was a good crash course none the less.

What it definitely solidified for me is how pissed off I am at politics in the country. Specifically, the stupid backlash to the idea of "nationalizing the banks." It's socialism!!! It's unamerican!!!! Damn pinkos!!!

Leave me alone with your ideological B.S. Who cares if it can be labled socialism? Is that a reason to ignore an option that has been proven to work? The US has been involved in rescuing collapsed banking systems in many countries around the world. Guess what they've advocated, and done? Temporarily nationalizing banks!! Gasp!

Now, there may be some very good reasons why it might not work in this particular case. Among other things, since the whole world is feeling this one, and in some sense, banks outside the US are in worse shape, if the government buys the banks, there may not be anyone to eventually sell them to (since the idea is to only nationalize temporarily, not own them forever).

But whether are rational arguments against it is beside the point. The cries of socialism prevent a rational debate about it. They throw out a viable option, proven to have worked in similar, if not identical, situations. Simply because O'Reilly can attach an "evil" buzz word to it. Pisses me off. A lot.