Yes certainly, that Congressmen are dependent upon campaign contributions explains why this is happening. The American political system is structurally set up to serve the interests of the wealthy.

As for your other point that in the US raising nationalization is career suicide, the people who post at that blog I quoted from are academics or in the financial services industry. Here is a new post:

Bailout: It's About Capital, Not Liquidity; Seeking Beta: Interview with Robert Arvanitis

Where have I heard that the problem isn't liquidity but solvency before?

A bomb, H bomb, Minuteman / The names get more attractive / The decisions are made by NATO / The press call it British opinion -- The Three Johns