This is a class blog for the students of POLSCI 426: Congressional Politics at the University of Wisconsin–Milwaukee.
Nationalize?
The banking system is out of control. First thing on the morning news is CitiGroup, how their stocks are declining and how the American People will benefit from the government bailout. I agree with Cato's Gerald P. O'Driscoll Jr, from WSJ, ""If a bank is too big to fail, then it is simply too big." Simple as that.
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1 comment:
The word "Nationalize" in American politics should be viewed as a four-letter word of sorts. No other word brings a smile to the face of Republicans faster than nationalize when it is used by a Democrat as they see it as an opportunity to call Democrats Communists and try to spread that message to the American public at large. It is one of the Republican party's oldest and favorite activities. Case and point, the Clinton administration's attempt to reform healthcare by nationalizing it was called a move towards communism and some blamed the 1994 Democratic Congressional defeat on. A push for nationalization of the banks may not be a bad idea theoretically but it is unquestionably risky politically for democrats.
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