Thursday, April 2, 2009

Nationalization Is Beyond the Pale?

This morning, I heard a Fox News radio host say that our government might "nationalize a business for the first time in American history."

Wrong! The FDIC has taken over failing banks in the past, and the federal government nationalized Continental Illinois in 1984. Also, just last year, we nationalized Washington Mutual.

Here is a great article on this and other related matters.

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