What TPM does not say is that it’s been clear since, say, August 2008 that these are the only choices. Either we keep pissing good money after bad, or we … stop.
The issue isn’t whether people like the idea of ‘nationalization’. It’s better framed as whether you a) want the government to temporarily take over certain banks or b) want to continue giving away hundreds of billions of taxpayer dollars in an effort that probably isn’t even going to work. Especially for Republicans, you really can’t be anti-bailout and anti-nationalization. Those are the only options.