The Case for Nationalizing the Entire Economy

The advocates for nationalizing U.S. banks have been out in force recently. Senator Lindsay Graham, who almost certainly does not have a PhD in economics or finance told ABC News that banks were in such deep trouble that government ownership of the institutions may be the only way to save the financial system

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Obama planning ambitious road ahead

Fresh off victory on President Obama’s signature $787 billion economic recovery plan, several top White House aides say they’re planning an ambitious agenda for the rest of February. The Senate had waited for the return of Democrat Sherrod Brown, who was returning from his mother’s wake in his home state of Ohio, to close the voting late Friday. For the rest of the month, the White House agenda will focus on addressing the housing crisis, cleaning up the banking mess and laying the groundwork for reform of the health care system and entitlement programs like Medicare.

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Witnesses saw and heard plane going down

The plane that crashed Thursday night near Buffalo, New York, had its nose down and wings tilted to the left just before impact, a witness told CNN on Friday morning. “The plane was nose down — not as steep as is being reported but steep enough that it didn’t look right,” said Tony Tatro, who lives next to the crash site in Clarence Center.

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Plane crashes into suburban Buffalo home; 49 killed

A Continental Airlines plane crashed into a home near Buffalo, New York, late Thursday, killing 44 passengers and four crew members on board, according to New York State police. Authorities said one person in the Clarence Center, New York, home was also killed. Four people were injured at the crash site, including a mother and daughter inside the house that was hit.

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