nationalized

Isn't nationalizing things fun? I don't generally recommend it - I do believe in the free market and all. But in this instance it is probably wise to inject capital and I hope more importantly confidence into the financial system, lest its shakiness further undermine the real economy.

Even many of the saner variety of Republicans think this is an instance when government action is needed. This would have never happened if George W. Bush were still President.

Still, the banks are an ungrateful bunch, says Steven Pearlstein. He's right - positively Bushian in their refusal to admit fault.