Democrats to Nationalize Another Industry?

Here it is, yet another partial nationalization of an American industry: Democratic Proposal Includes Federal Stake in Car Companies:

Congressional Democrats are pushing legislation to send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies.

House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., hope for quick passage of the auto bailout during a postelection session that begins Monday.

Legislation being drafted by Rep. Barney Frank, chairman of the House Financial Services Committee, would dip into the $700 billion Wall Street rescue money, approved by Congress last month, for the auto aid.

I swear, if I were paranoid, I’d see this as a backdoor attempt at outright socialism. And by that I mean, literally, government assuming ownership over the means of production, including capital.

Of course, the Republicans have nothing better to say than:

“Once we cross the divide from financial institutions to individual corporations, truly, where would you draw the line?” asked Sen. Jeff Sessions, R-Ala.

Yeesh. The Republicans wouldn’t know a principle if it slapped them across the face.

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