Nationalizing the Banks

Treasury Secretary Henry Paulson has aided in the start of banks nationalizing. The money from the bailout has been put into the banks. The world is in an uproar. Conservatives are upset about it, but the liberals are all for it. as Tyler Cowen said, a blogger from Brad deLong's website, "I am not stunned, I want to sing."

This plan does not take the place of the $700 billion bail-out, but just takes $250 billion of it and gave it to the banks. On the up and up, it's a good thing. Stocks went up 11%. It has helped eastern countries also. Japan's economy is going up, its stocks are up 2%. Nine european banks are putting money into the US banks to help. This decision may not be supported by the conservatives but it has to be a good idea or else the US wouldn’t have been forced into doing it.