The current talk about nationalizing banks even by top Republicans makes folly of Republican claptrap about "socialism." Glenn Beck wouldn't know socialism if it jumped up and bit him on his rear end.
Arianna Huffington: Sunday Roundup
In times as uncertain as ours, yesterday's heretical view can rapidly turn into today's conventional wisdom. Take the question of nationalizing America's insolvent banks. Just six months ago, raising the idea would have immediately branded you as an old school Marxist. Now, it's being suggested by none other than Alan Greenspan. Last Sunday, Lindsey Graham said he wouldn't take nationalizing the banks off the table. On Wednesday, Greenspan, the high priest of laissez-faire capitalism, said it "may be necessary." And on Friday, Chuck Schumer, who just five days earlier had said he "would not be for nationalizing," told HuffPost he was actually in favor of "good nationalization," wherein the government takes over zombie banks, cleans house, then resells them to the private sector. Who knows, by next week Ayn Rand might pop up from the grave and start speaking Swedish.
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