Look: under normal circumstances, I'm not necessarily for nationalization of assets, but years (decades?) of greed and mismanagement have pushed the issue to this point. If the rich believed in the virtue of the Free Market, they could have tempered their rampant avarice a little…
The right solution to the banking crisis–temporary nationalization–finally seems to be taking hold among those who have the power to implement it.
Over the weekend, Senator Lindsey Graham said he favored nationalization because he didn't want to throw good money after bad. Yesterday, Obama seemed to suggest that he now favors a more "bite the bullet" approach than the one used in Japan (and, thereby, the one his own Tim Geithner is planning). And now Alan Greenspan has jumped on the bandwagon.
More "Galloping Socialism"…
