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December 8, 2008

US and Russia Using the Same Playbook

Joseph Smith
Two headlines tell the story, when it comes to handling the private sector:

Detroit Bailout May Bring On U.S. Oversight
Congressional Democrats were weighing options for government control of the auto industry, including the possible creation of an oversight board.

And then a similar story on the Kremlin controlling their weakened natural resources industries:

In Hard Times, Russia Moves In to Reclaim Private Industries
The Kremlin seems to be exploiting the economic crisis to establish more control over weakened industries.

While the process in Russia is more heavy handed, the end result is the same: state control of industry.  The parallels with Russia are indeed disconcerting.  

Posted at 8:49 AM | Email | | | Share Share