Separation of Business and State, part 2.

I wrote last week that the Obama Administration and the Democrat Congress' intervention in the banking industry could be considered a precursor to nationalization. Today The Wall Street Journal reports, "The Obama administration could end up with more direct control over some of the nation's largest banks as policy makers consider converting the government's preferred stock in these companies into common equity" (http://online.wsj.com/article/SB124019955514434181.html), which could make the government the controlling stock holder in these banks. Effectively, this would be a hostile takeover of the banking industry.
I can't take much credit on this one. You didn't have to be very smart to see this coming.