03/26/2009 05:12 am ET Updated May 25, 2011

Krugman: The Case For Nationalization

Comrade Greenspan wants us to seize the economy's commanding heights.

O.K., not exactly. What Alan Greenspan, the former Federal Reserve chairman -- and a staunch defender of free markets -- actually said was, "It may be necessary to temporarily nationalize some banks in order to facilitate a swift and orderly restructuring." I agree.

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