Greenspan: Nationalize Those Banks!

As reported in today’s Financial Times, Alan Greenspan whose conservative credentials are impeccable argues for the nationalization of banks: FT.com / US / Politics & Foreign policy – Greenspan backs bank nationalisation

Now, if people like Greenspan and Senator Graham, neither of whom would I call liberal let alone socialist, are calling for nationalization of our failed banks, who am I to argue?

What is stopping Obama? A faux sensitivity to American ideals? But those ideals are the very same ones that brought us here. Now is the time to start afresh. Let’s get on with it and end this twilight era of ‘not quite dead but definitely not alive’ banks.

We should do the decent thing and put them out of their misery. Nationalize and begin the reconstruction of the American economy.

Now.