Conservatives for Conservators

Robert Waldmann

The USSR (Union of Serious Socialist Republicans or House GOP caucus) just came out in favor of nationalizing banks.

From their alternative non budget

[O]ur plan supports a process to address insolvent institutions that stops throwing good money after bad into failing institutions and places insolvent ones into temporary receivership. … For insolvent firms, either the FDIC or a Resolution Trust Corporation-type entity would restructure these firms in receivership by selling off their assets and liabilities, reappointing private management, while protecting depositors — a process that builds off Washington Mutual’s arranged sale last year.

via Elana Schor

Now, if an when the Obama administration gets around to actually nationalizing, they will denounce it as socialist revolution. It won’t be anything new for them to contradict themselves. Still good news as far as it goes.