I see a jab a communism here.
Actually there have been many successful examples of nationalized industry in capitalist countries. Usually natural monopolies like the post office, utilities and rail transport.
Here in the UK I hope we renationalise the rail, water and electricity sectors. These are sectors where private competition is not sensible so they currently operate as heavily regulated monopolies. These were nationalised industries until Thatcher in the 70s.
In terms of Banks- the UK government did end up owning majority shares in several banks including Royal Bank of Scotland and Lloyds. This was the result of the cash injection these banks received during the financial crisis. The government has since sold the stakes and returned the groups to private hands.
I think a knee-jerk fear of anything that looks even slightly socialist is stifling a proper discussion of the issues. Bank accounts are so vital to modern life that perhaps, like a public defender in court, the state needs to step in as the banker of last resort. This won't affect most people but for some people having a bank account for the first time could change their lives. Lets not be so ideologically pure- in defense of the banking industry no less- that we turn our backs on pragmatic suggestions to improve peoples lives.
