In his Communist Manifesto, published in 1848, Karl Marx proposed 10 measures to be implemented after the proletariat takes power, with the aim of centralizing all instruments of production in the hands of the state. Proposal Number Five was to bring about the “centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.”-Martin Masse
If he were to rise from the dead today, Marx might be delighted to discover that most economists and financial commentators, including many who claim to favour the free market, agree with him.
Read more:
http://network.nationalpost.com/np/blogs/fpcomment/archive/2008/09/29/bailout-marks-karl-marx-s-comeback.aspx
An afterthought: Can anyone imagine Ronald Reagan or Bill Buckley supporting this maladroit and now, thankfully defunct piece of legislation? If a Democratic president had proposed such a bill, NO Republican would have raised a finger to help it through Congress.
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