Two Views On Nationalizing The Detroit Auto Makers

Last night I wrote a brief post about David Sanger’s article in the New York Times concerning the seeming nationalization of the Detroit auto makers and the consequences of the action. Part of the article was devoted to the politically charged nature of the word “nationalization.”

Today, two blogs that I follow and generally feel do a pretty good job of editorializing had vastly different takes on the article. Felix Salmon at Portfolio.com gave the Sanger’s work a good grade and generally seemed to feel that the road towards government control is going to be one with an unhappy ending. Yves Smith at Naked Capitalism was pretty critical and gave a spirited defense of nationalization.

If you read this blog much at all, you pretty much know that I come down on Salmon’s side. Nevertheless, I thought you might enjoy a little point, counterpoint on this issue.

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