Reject 'Lemon Socialism': Obama Should Nationalize Bailed Out Banks

Reject 'Lemon Socialism': Obama Should Nationalize Bailed Out Banks

by
Craig Brown

A growing chorus of economists are urging Obama to reject 'lemon socialism' - where losses are socialized; profits privatized.

Nobel Prize-winning economist Paul Krugman adds his voice today:

“If taxpayers are footing the bill for rescuing the banks,
why shouldn’t they get ownership, at least until private buyers
can be found? But the Obama administration appears to be
tying itself in knots to avoid this outcome.”

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