Buried about half-way down in an article in tomorrow’s Post on the administration’s new bank rescue policy, there’s this …
A wide range of prominent economists and public figures have called for the government to take this step. But a backlash is building against government ownership.
I do not pretend for a moment that nationalization of any sort is a done deal or that it doesn’t face a lot of entrenched and interested opposition. But this is completely at odds with what I’m seeing. My impression is that over the last two to three weeks there’s been a clear move of elite and expert opinion — politicians, economists, policy analysts and even industry types — in the direction of nationalization / receivership as an unfortunate necessity or at least something that must be seriously considered.
I have not seen any public opinion data that provides any insight on where the public is on this question, though opposition to the bank bailouts as a general matter is obviously extremely high. But to the best of my knowledge I don’t think I’ve seen any evidence at all of a backlash ‘building’.
The only evidence proffered in the article is a letter from Sen. Grassley (R-IA) which doesn’t even some on point about opposition to nationalization.
To be clear, I’m not trying to pick a fight on this one. I’m just genuinely interested in where they’re getting this and curious whether there’s something I’m missing.
Let me know your thoughts.
