“Private ownership of savings . . . can be socially controlled. The social abuses connected with savings are encountered mainly in the mechanics of investment and financial management by the large banks, savings institutions, and insurance companies which handle savings. It is a relatively easy matter for the State to preserve the present de facto rights and interests of small savers while completely nationalizing the financial institutions which now administer their savings.” “It cannot be repeated too often that what prevents adequate public regulation is liberal norms of law or constitional guarantees of private rights. There is no need to … Continue reading Why Financial Fascism Instead of Communism?