Fri, 10 Oct 2008

U.S. Proceeds With Plan for Equity Stakes in Banks

When somebody like Chavez takes an "ownership position" in a bank or an oil company, we call it "nationalization". Which of course makes the perpetrator a "socialist". When Hank Paulson and George Bush do it we call it a "rescue". Which makes them "free market capitalists".

You can put lipstick on a pig ...

The Treasury secretary, Henry M. Paulson Jr., said the government would move ahead with taking ownership stakes in financial institutions as it tries to restore confidence.

(link) [New York Times]   see also

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