Historically Ironic

It’s Monday. It’s Krugman. Controllers (and many others) should be able to see the irony.

”And once again, long-term government ownership isn’t the goal: like the small banks seized by the F.D.I.C. every week, major banks would be returned to private control as soon as possible. The finance blog Calculated Risk suggests that instead of calling the process nationalization, we should call it “preprivatization.”“

“Preprivatization” -- I think that’s a keeper. We’ve gone from wanting to privatize the air traffic control system to needing to nationalize the banking system. Unbelievable.

Don Brown
February 23, 2009