Sanity at NRO

Andrew Stuttaford writes at the Corner:

RE: Alan, there are many ways to describe what Secretary Geithner is up to (quite a few of them deservedly unflattering), but to label it as 'socialist scheming' is, with respect, a stretch. The only consistent theme I can detect on Geithner's part is a determination to keep some sort of show on some sort of road. Fair enough, I think. Somehow I suspect that seizing the commanding heights of the economy is not one of his aims. Lenin still sleeps.

As for the idea that government capital injections into the banks sit like "ill-disguised Trojan horses", I look at those ruins of banks and then I look at what they have taken down with them, and (to push the analogy further, probably, than it ought to go) find myself wondering who is Troy and who is the horse.

The fact is that nationalization of some of the banks may well be the least-bad next step to take. The key will be to ensure that they are kept as wards of the state for as brief a time as possible and that political interference in their day-to-day running is kept to an absolute minimum.

But Mr. Stuttaford also writes for Secular Right, so we already knew he was sane ; )