"This aversion to state control characterizes Obama's response so far to the financial crisis. When asked in an ABC interview why he didn't nationalize the damn banks already, Obama's telling response was to talk about how our "traditions" are different from European ones. 'Obviously, Sweden has a different set of cultures in terms of how the government relates to markets and America's different,' he said. 'And we want to retain a strong sense of that private capital fulfilling the core investment needs of this country.' Note that Obama's global-warming plan is a market-based cap-and-trade system rather than a more straightforward carbon tax or regulatory scheme."
Jacob Weisberg in Slate explains how out-of-step President Obama is with European social-democratic views.
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