Re: [Pen-l] So Just Why is Bank Nationalization Off the Table?

To: Progressive Economics <pen-l@xxxxxxxxxxxxxxxxxx>
Subject: Re: [Pen-l] So Just Why is Bank Nationalization Off the Table?
From: Shane Mage <shmage@xxxxxxxxxxxx>
Date: Fri, 16 Jan 2009 10:04:58 -0500
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On Jan 16, 2009, at 9:42 AM, Ann Davis wrote:

Re: Edmund Andrews in today's NYT and Bernanke's speech on Monday, the Obama administration is going through massive contortions NOT to nationalize the banks which are receiving bailout funds.

Can a case be made for the opposite, for the importance of nationalization?

Have progressives already made this case elsewhere? Is it not considered desirable, for some reason?

Please advise.

Progressives support Obama. (they say so--right Charlie?)

Obama is a nonideological pragmatist. (he says so)

Obama believes in free markets (he says so)

Nationalization--of anything--is ideologically inconsistent with belief in free markets.

Therefore Obama is against nationalization of banks.

Therefore progressives don't consider nationalization of banks desirable.

But if Obama is forced to nationalize some banks they will support him.

Shane Mage

This cosmos did none of gods or men make, but it

always was and is and shall be: an everlasting fire,

kindling in measures and going out in measures."

Herakleitos of Ephesos

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Follow-Ups:
- Re: [Pen-l] So Just Why is Bank Nationalization Off the Table?
  - From: Jim Devine

References:
- [Pen-l] Another piece of the complex totality
  - From: Charles Brown
- [Pen-l] So Just Why is Bank Nationalization Off the Table?
  - From: Ann Davis

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Thread context:
- Re: [Pen-l] Re: Another piece of the complex totality, (continued)
  - [Pen-l] Another piece of the complex totality, Charles Brown Thu 15 Jan 2009, 20:45 GMT
  - [Pen-l] Another piece of the complex totality, Charles Brown Thu 15 Jan 2009, 21:00 GMT
    - [Pen-l] So Just Why is Bank Nationalization Off the Table?, Ann Davis Fri 16 Jan 2009, 14:16 GMT
      
      Re: [Pen-l] So Just Why is Bank Nationalization Off the Table?, Shane Mage Fri 16 Jan 2009, 14:37 GMT
      
      Re: [Pen-l] So Just Why is Bank Nationalization Off the Table?, Jim Devine Fri 16 Jan 2009, 15:21 GMT
- [Pen-l] Proletarian _Inter_nationalism (was: How the Entire Economics Profession Failed, Charles Brown Mon 12 Jan 2009, 21:02 GMT
- [Pen-l] Pious warmongers, Louis Proyect Mon 12 Jan 2009, 19:20 GMT
- [Pen-l] Citigroup, Morgan Stanley merger in works, Charles Brown Mon 12 Jan 2009, 19:16 GMT

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