what are the effects of nationalising Banks?

No competition.

Just try buying a cd.

And you thought $8 for a teller writing you a cashiers check was high?

Imagine a government working doing it.

/

1. Huge national debt and the potential of a decade or more of increased taxation and reduced public spending (excluding MP's allowances) to pay for it.

2. A country that still functions with some semblance of normality.

No effects, your money will be safe in a country like the United States.

It boils down to the question "Will government run banks treat their customers better than privately run "for profit" banks?".

It's a trade-off between inefficient government or corporate greed. Which is better?

It gives Obama more control of this nation. He can dictate who gets money, how the money gets spent... he is already dictating the salarys of the bank employees.

It is socialism.

NOBAMA!

Well, for one, "National City" bank will have to change its name to "Nationalized City" bank.

Government has more control over them. More regulations for DOs & DON'Ts

now the gov is involved in more of your life

Monopolized bastards. HEHEHE

You get something similar to microsoft. :(