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 …