"Revolutionary socialists have always, always, always advocated nationalization of the banks and democratic accountability of the Central Bank." ?
But nationalisation is by no means incommensurate with capitalist rationalisation.
Engels wrote 'since Bismarck went in for state-ownership of industrial establishments a kind of surious socialism has arisen degenerating now and then into a something of flunkeyism ... that declares all state ownership, even of the Bismarckian sort to be socialism ... certainly if the taking over by the state of the tobacco industry is socialistic then Napoleon and Metternich must be numbered among the founders of socialism.' (Anti Duhring, Progress ed. 1978, p 337)
Shane hedges the point by saying that the banks, once nationalised, must be under democratic control. But that seems a million miles away from where we are. Is there a working class movement capable of holding a state-owned central bank to account today? No.
The Bismarckian nationalisation of the Bradford and Bingley and Northern Rock in the UK or of banks in the US has nothing to do with socialism. It is just capitalist crisis management.
A socialist revolution might need to nationalise the central banks, as part of the first stage in the abolition not just of banks, but also of the state itself. At the most that would be a tactic in the longer term strategy of the socialist organisation of industry; and certainly not a sine qua non of socialism.
In any event, that is all speculation, because there is no socialist revolution in the making here, just a collapse of capitalist leadership.