Friday, February 20, 2009

Kinda Dumb

I appreciate that no one, including Gibbs, should be suggesting that nationalization for Citi, etc., is imminent, but anyone who thinks that his discussion of the issue rules it out is a bit dumb. We are going to continue to have a private banking system, and that will be the case after the FDIC likely gobbles up a few banks this evening. It would also be the case if they gobbled up Citi.

"This administration continues to strongly believe that a privately held banking system is the correct way to go, ensuring that they are regulated sufficiently by this government," White House spokesman Robert Gibbs said Friday. "That's been our belief for quite some time, and we continue to have that." no one, I mean no one who is in the position to do so.