On Jan 16, 2009, at 9:42 AM, Ann Davis wrote:
Re: Edmund Andrews in today's NYT and Bernanke's speech on Monday,
the Obama administration is going through massive contortions NOT to
nationalize the banks which are receiving bailout funds.
Can a case be made for the opposite, for the importance of
nationalization?
Have progressives already made this case elsewhere? Is it not
considered desirable, for some reason?
Please advise.
Progressives support Obama. (they say so--right Charlie?)
Obama is a nonideological pragmatist. (he says so)
Obama believes in free markets (he says so)
Nationalization--of anything--is ideologically inconsistent with
belief in free markets.
Therefore Obama is against nationalization of banks.
Therefore progressives don't consider nationalization of banks
desirable.
But if Obama is forced to nationalize some banks they will support him.
Shane Mage
This cosmos did none of gods or men make, but it
always was and is and shall be: an everlasting fire,
kindling in measures and going out in measures."
Herakleitos of Ephesos
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