Whither Socialism?

Christopher Benson

As the financial crisis continues to unfold, Americans have been repeatedly bludgeoned with this notion that we’re undergoing a dramatic shift toward socialism.  If that’s the case, why the heck haven’t we nationalized Citibank yet?

Limestone Roof Blog

Thusfar, we’ve provided two bailouts (yes, two) to the struggling banking titan, and plans are in the works for a third.  Reporting on this development, Eric Dash of the New York Times wrote:

"The administration’s strategy seems to point in the direction of stopping short of outright nationalization — where the government takes control — and stepping up regulatory scrutiny."
 

If Obama’s grand scheme is indeed to nationalize the banks and turn the U.S. into a demi-socialist state, his detractors who are calling him an incompetent, closeted Marxist are half right.  A competent Marxist would have already seized the banks.