Quote:
Originally Posted by SFL Cat
One could also argue that this could be the beginning of a massive government power grab -- nationalizing most of the major private industries in the country. Obama has backed away from the idea when questioned, but I suppose we'll find out as we move forward.
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That already took place last year when we more or less nationalized the mortgage, banking, investment, and insurance industries. I wouldn't exactly call it a power grab and instead a move of desperation. The alternative was to let these institutions fail.