Legal Commentary

When The American People AND James Baker Are To The Left of "The Left Flank"

By Big Tent Democrat

Think Progress:

The [Newsweek] poll also contains the interesting and “somewhat surprising” finding that a majority of the American public supports nationalizing the banks:

Temporary nationalization is another way for the federal government to deal with large banks in danger of failing. This is where the government takes over a failing bank, cleans its balance sheets, and then quickly sells it off. In general, which do YOU think is the better way to deal with failing banks…

29 Government financial aid WITHOUT any government control of the bank, OR
56 Nationalization, where the government takes temporary control?
11 Neither/Other (VOL.)
4 (DO NOT READ) Don’t know

More . . .

Faiz Shakir of Think Progress continues:

[I]n addition to the American public, the noteworthy list of those who are advocating nationalization is bipartisan and growing. It includes Paul Krugman, Alan Greenspan, Nouriel Roubini, Lindsey Graham, James Baker, and now Thomas Hoenig. Hoenig is the Kansas City Fed President, and in remarks yesterday, he criticized the Treasury Department for moving forward with nationalization in a “piecemeal” rather than a comprehensive manner.

It is amazing at this point that much of the Left blogs are now to the right of James Baker and Alan Greenspan on this issue. What could explain it?

Speaking for me only

Full post as published by TalkLeft on March 07, 2009 (boomark / email).