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NATIONALIZE ME!….With all the talk of bank nationalization in the air, I’d just like to point out something directly that usually gets mentioned only in passing: we’ve already done a whole lot of nationalizing. Even if you don’t count the forced takeover and sale of outfits like Wachovia, Washington Mutual, Countrywide, IndyMac, and Bear Stearns, the fact remains that we’ve already nationalized three enormous financial institutions: Fannie Mae, Freddie Mac, and AIG. We just don’t like to call it that.

I don’t really have a point to make here aside from the fact that, in many cases, we seem to be more allergic to the word “nationalization” than to the actual fact itself. Citi and BofA would be different animals because of their size and reach, and long-term government control of such large banks remains problematic, but still: taking them over would hardly be unprecedented, even here in the United States.

And one more thing while we’re on the subject: Since you, the American taxpayers, are now the owner of AIG, you’re also the main sponsor of the Manchester United football club. The last time I mentioned this, the season was young and our club was mired in 14th place. But I’m happy to report that since the U.S. takeover of AIG in September, our plucky lads have been playing well and Man U now leads the Premier League. Who says nationalization is bad for business?

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IT'S NOT THAT WE'RE SCREWED WITHOUT TRUMP:

"It's that we're screwed with or without him if we can't show the public that what we do matters for the long term," writes Mother Jones CEO Monika Bauerlein as she kicks off our drive to raise $350,000 in donations from readers by July 17.

This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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