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With George Bush's approval, Treasury Secretary Henry Paulson has tripped across a line of historic dimension. Two less likely agents of change we have seldom seen, but in executing the financial putsch on Fannie Mae and Freddie Mac, they have taken America to a new place.
Other nations have been there. In the early decades of the twentieth century Italy went there when Benito Mussolini initiated his version of state capitalism. He was followed in Germany by Adolf Hitler and national socialism. Both were able to bring about a significant increase in prosperity, however repugnant their other teachings and practices.