Here’s a prime example of why the Republicans lost the election, and can’t hope to win anything back anytime soon: Nationalization: Is It the Only Answer to Save Banks?: A year ago, it would have been unthinkable: Sen. Lindsey Graham advocating a government takeover of private banks — but that is exactly what he suggested […]
U.S. Government Begins Nationalizing American Businesses
October 27, 2008 by Leave a Comment
Let the party begin: The U.S. government will start doling out $125 billion to nine major banks this week to get credit flowing again, but Monday’s announcement offered cold comfort to investors as rising anxiety about a worldwide recession drove stocks down sharply around the globe. Assistant Treasury Secretary David Nason said the deals with […]