Today’s Required Reading

Krugman makes a great argument for nationalizing the big insolvent banks like Bank of America and Citibank, pointing out that the FDIC has been taking over smaller troubled banks, per its charter, at a clip of two a week. He then proceeds, quite correctly, to thump the Obama Administration for continuing to offer plans that would put the risk onto taxpayers rather than shareholders but may not actually fix the problem. All good stuff.