Paulson II: the nationalisation of the banks - what do you think?
By evanslf
@evanslf (484)
October 14, 2008 6:11am CST
The original Paulson plan of $700 billion bailout to the banks is being changed considerably as Paulson now intends to follow the Gordon Brown model of recapitalising the banks, thus effectively part-nationalising (if not fully nationalisting, we'll see) the banks.
So it seems that force majeure has forced the Bush administration to nationalise a one of the key commanding heights of the economy, the banks. The article is at: http://www.electoral-vote.com
What do you think. Is this the end of the era of free markets?
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