Monday, April 20, 2009

Since the Age of Jackson, this country has battled over the degree to which the national government should be involved in the banking system. Edmund L. Andrews reports in the New York Times today that the Government may take an equity stake in as many as 19 banks. This will antagonize conservatives, not doubt, ramping up the accusation that we have a socialist regime in Washington. But the strategy worked for Sweden in the '90s, I've learned.

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