Time To Nationalize The Oil Industry?

Traditional American methods of regulation, overseen by a federal agency that is among the worst of all time, plainly don’t work. When President Obama’s critics say that he has failed to “take control” of the situation in the Gulf, they may not fully recognize the implications of their complaint, but Chris Matthews does. The frustrated “Hardball” host, who is not known as an adversary of corporate power, was probably the first mainstream journalist, but may not be the last, to ask: “Why doesn’t the president go in there, nationalize an industry, and get the job done for the people?”


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