On Friday, March 6, a fifteen page was released by Thomas E. Hoening, President and CEO of Kansas City Federal Reserve Bank, reviewing the actions of federal banking regulators from the time of FDR down to the present. The last pages of the paper appear critical of actions by TARP and suggests nationalization and eventual re-privatization as a better solution—especially for many of the “too big to fail” banks. 
Although previously discussed in the popular press, many blogs across the country are picking up on Hoening’s paper as possibly a real change in policy. Mathew Padilla in “Federal Rogue or Master Plan”, http://mortgage.freedomblogging.com/2009/03/07/fed-rogue-or-master-plan/7619/
“His [Hoening’s] speech, titled Too Big Has Failed, is the harshest criticism of the government’s handling of the financial meltdown, that I have read from an official of one of the main regulatory agencies. The question is whether he is speaking only for himself, or is this a ploy by the Obama administration to start getting people ready for nationalization.”
The address again of President Hoening’s speech is: http://www.kc.frb.org/speechbio/hoenigPDF/Omaha.03.06.09.pdf
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