Nationalize Failing US Banks?

Nationalizing the banks is rubbish.

How can we nationalize things that are internationally owned? We need a world economy based on relocalization and inter-community, inter-regional, and world-wide cooperation.

The proposal to put the failing ("lemon socialism") banks into Government Receivership, "clean out toxic assets" (whatever that means - have the government buy the bad investments (i.e. take the loss)), then sell the banks to "a new round of investors". Does the government pay the old investors for the failing or failed bank?

What the U.S. Government should do is honor the obligations of FDIC, FSLIC, etc., pay unemployment insurance, and allow those affected to apply for SSI and food stamps.

We don't need banks. We don't need investors in financial institutions, only depositors. Money can be held in credit unions, and since credit is an overly risky (to the borrower, and lender it turns out eventually) and inflationary business strategy, and similarly dangerous personal strategy, credit unions should evolve into equity unions.

Localizing real assets (nationalizing is a subset of such in a faulty planetary organization of people) makes more sense. It would favor comparative advantage over competitive advantage in an eco-syndicalist re-organization based on the principles of peace, equity, humanity, quality of life, and sustainability.