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I hate saying this, but we have to stop kidding ourselves—it’s time to nationalize our rotten banks. I’m not really pro nationalization but I’m anti stupidity and that’s what we’ve been doing up till now.

My normal fear of nationalizing is that it would lead to a moribund industry incapable of turning a profit. Well, we're already there.

My only hope is that it’s done quickly. Very quickly. Before anyone notices.

Posted by edelfenbein at February 20, 2009 1:32 PM