No Jacksonian our Barack… http://www.civil-liberties.com/cases/bankveto.html <em>On the advice of Senators Clay and Webster, Nicholas Biddle, the president of the Bank of the United States, applied to Congress for a recharter bill in 1832, four years in advance of the expiration date of the old bill. The recharter bill passed, but Jackson vetoed it and the supporters of the bill were unable to gather enough votes to override the veto.

In this message, drafted by Amos Kendall, a member of Jackson\’s \"Kitchen Cabinet,\" the President attacks the bank as undemocratic, monopolistic, parasitical, and, because it was controlled by foreigners, a danger to the future of the republic itself. </em>

\"With federal ownership of a slew of banks, they can sort through all those obligations and net them out much easier than under private ownership\"

it pretty much explains why Stiglitz is a laughable poser rather than a serious economist. No one in their right mind thinks that the Feds are good at sorting out complicated financial transactions.