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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (424723)10/11/2008 1:53:36 PM
From: tejek  Read Replies (2) of 1575396
 
Which raises the question, if they are taking this radical of a move, what aren't they telling us?

Krugman doesn't say it in his article but my understanding is that the US is getting pushed hard into that direction by China, the EU and the Brits. They want us to get our house in order quickly. After all, the US has screwed around with this problem over a year with very little resolution.

Because, despite the ravings of the Right, there has never been even a semi-serious attempt at nationalizing businesses, much less entire industries. Yet that is what is being discussed.

Two things.....first the banks have blatantly lied how bad things were for over a year. They have lost credibility and have made the US look stupid in front of the rest of the world. Their behavior pretty much demands drastic measures. Secondly, I see Paulson and Bernanke more as the liberal Republicans with whom I grew up. They are less ideological and more pragmatic than the current crop.
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