Friday, January 16, 2009
Nationalizing the Banks
Well, it's almost official: we are nationalizing several banks. I expect the same kinds of efficiencies and profitability we see in all the other nationalized companies around the world. The federal government seems determined to turn this into a depression -- and a further excuse for more nationalizations. Hold it, wait, I think I just answered my own question on why they would do something that would cause a depression. Never mind.