Hi All,

There has been a huge amount of coverage of Washington’s efforts to prop up the banking industry. The Fed is working overtime to provide liquidity to lending, and the White House and Congress are jumping through hoops to limit executive compensation to failing banks and to prop up the housing market.

I say, just nationalize the banks and get it over with once and for all.

The government’s involvement in the economy has already made a mockery of free market principles. If you look at it closely, current Federal action is essentially “nationalization lite” (1), so why bother with the rhetoric and political posturing?

They might as well nationalize the banks now and spare the nation another round of ineffective half baked legislation.

Best,

James

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