Be more like Duhbya

Instead of moving to nationalize failing banks, Obama should follow Duhbya's obviously successful gambit with Lehman Brothers and let some big banks fail. Yep, that's what free market fundies John "Don't know much about economics" McCain and Richard Shelby have to say.

Of course, the problem from the center is that Obama's policy of sucking down endless capital infusions for the benefit of executives whose epic fails caused these problems is foolish, too.

I wasn't very far ahead of the curve, but in the fall, when I heard that the bailed out banks were using their free money for acquisitions instead of loans, I asked the question: If the problem in the economy is that credit is drying up, why not cut out the middle man, nationalize failed banks, and make the responsible loans ourselves?

Some people deserve to go broke. There are ways to make sure they do without screwing all the rest of with a decade-long depression.