Nationalize Banking? Or Apologize for the Suggestion …
The Daily Bell
January 29, 2013
Breaking Up the Big Banks is Not a Solution: Make Them Public Utilities … Leo Panitch: Global capitalism needs massive banks, but big private banks have the power to prevent regulation and threaten more crisis; the solution is not breaking them up but making them public – The Real News
Dominant Social Theme: Since we can’t regulate these too-big-to-fail banks, let’s nationalize ‘em.
Free-Market Analysis: Leo Panitch has the idea that because “private banking” is not working very well, banks ought to be turned into purely public facilities. Say what?
In our humble view, this is akin to the neo-Nazi idea of late that has to do with nationalizing central banking in order to ensure that the “people” gain maximum advantage from the debasement of their money. Didn’t the USSR try something like this?
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