"Nationalization, to my mind, is when government seizes the banks, zeros out the shareholders and begins to manage and run the bank, and we don't plan anything like that."
In many ways he's absolutely correct. I mean it's a good Republican answer because it means George Bush is not a socialist, which is convenient for the GOP. I just find it hard to believe that if Barack Obama had nationalized AIG like Bush did if such a definition would exist. If and when Obama gives one dollar to a private industry he'll be a socialist. Complete takeover won't have anything to do with it. We'll see if Bernanke's GOP abides by his definition. I seriously doubt it.
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