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Reply #88: You say that like it was possible, easy, and a good idea! [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
bhikkhu Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-12-10 01:37 AM
Response to Reply #45
88. You say that like it was possible, easy, and a good idea!
First, there is no plan to nationalized the banks. Considering the size of the project and the legal and financial implications, someone in power saying "we should just do it" would likely make a banana-repuplic style mess of one of the world's largest economies. Rather, what they did was a temporary government intervention, which worked well and cost little. If all the options were on the table, the results of the one that was chosen would likely still be the best, with the least harm.

Of course we have problems, and the abuse of the system over the past decade or so has been the cause of much of it, but the whole thing was wound down at little cost and a banking reform bill was passed earlier this year. Hopefully it is all heading in a better direction.
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