The Corner

The People’s Bank?

Headline from today’s Washington Post:

U.S. Forces Nine Major Banks To Accept Partial Nationalization

The U.S. government is dramatically escalating its response to the financial crisis by planning to invest $250 billion in the country’s banks, forcing nine of the largest to accept a Treasury stake in what amounts to a partial nationalization.

If you were of a socialist bent, and you were the next President of the United States, a nationalized banking system would be a pretty nice gift for a Republican administration to bestow upon you, one you would probably not want to give up soon or easily.

I’m just saying …

Clifford D. May — Clifford D. May is an American journalist and editor. He is the president of the Foundation for Defense of Democracies, a conservative policy institute created shortly after the 9/11 attacks, ...

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