Nationalize Banks and We Will Recover Faster

The Dow has just hit a 10 year low. Why? Fear that the government will nationalize banks. This seems ridiculous to me. We have already given our banks a chance. They got too greedy and took on too much debt. Now we are all paying the price. They had their chances and messed up. Since the govenment has graciously given them our money, why not let the govenmnet have a chance to run it? I mean they have already made banks who accepted bailout money cut dividends. They are also trying to cut pay and bonuses for executives. Seems like they already have, not only a foot thru the door, but most of their body.

Nationalization of banks seems socialistic and scary to most people. Socialism in its purest form should work. However, socialism has never worked and will never work because it is never practiced in its purest form. Why can't the government buy out the shareholders, adjust assets, take care of debt, replace management, and then sell it back to the market? They would have direct control over this crisis and could do a lot more than management is willing to do now at these banks. Taxpayers are running out of money to help banks out. We need to stop taking half measures and just throw the whole battalion at this thing before we end up wasting a decade like Japan did in the 90s. The faster we get things turned around with banks, the faster the rest of the economy and this nation can get turned back around. We need to stop trying to fix everything at once and focus on just one thing at a time. Let's not waste a decade trying to make everybody happy.