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I suspect he's quite aware that socialized societal organelles are more efficient than our current all-private, all-the-time system.

If only business money-power could be checked to allow us to do that here.

Oh, and we couldn't obviously call it socialism... at least not immediately.

How about we call it "economic democracy".
You know what I mean by that Charles. ;)

1.) This would have caused a precipitous decline in the U.S. dollar since much of the equity in Freddie and Fannie is owned by foreign governments. If the government won't stand behind its commitment to the Fs, there's little reason to believe that it's credible elsewhere.

1b.) This would lead to inflation.

1c.) Which leads to higher interest rates.

1d.) Which leads to more defaults when mortgages reset.

2.) The nationalization would be followed shortly thereafter by the sale of the broken up units to private ownership... you'd be paying to shore up the institutions so that big banks can make money from it.

Charles, you really don't get the economics do you? Please go back to your bad philosophy. I so much more enjoy your foibles in that camp ("Let's play 'Has Charles been reading Bataille?").