Don't Dare Call It Socialism

Did anyone stop to ask “by what right?” before going ahead with this:

The Obama administration has a plan to continue bailing out America’s banks without asking Congress for more money — by converting its loans to common stock, and in turn taking a large ownership stake in the companies.

Though such a move could stir fears of de facto nationalization, The New York Times reported Monday that President Obama’s advisers are floating the idea as way to extend the remainder of the $700 billion bank bailout fund.

Maybe we could call it the Happy Fun Eurotimes Game.