Thus Yves Smith.
Why is “Nationalization” A Dirty Word in America?
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This New York Times article deals with the Obama team’s reluctance †o be seen as “nationalizing”. I see. So we would rather pander to the bankrupt ideology that helped create this mess, let the perps continue to get undeserved princely pay, and stick the hapless sop taxpayer with the guaranteed-to-be-rotten fruit of this exercise rather than demonstrate leadership and reframe the issues. The hesitation to demand even modest quid pro quos is beyond belief. No private sector negotiator would ever accept such a deal.Is this “Change We Can Believe In?” Looks like the same old crap to me, with better salesmen in charge.
The golden rule is that he who provides the gold, makes the rules. Time to get over prostrating before the private sector when it has abjectly screwed up.
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