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RedEarth Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 03:35 PM
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Nationalisation linkfest
Nationalisation linkfest
Posted by Sam Jones on Jan 20 11:48.

To nationalise or not to nationalise?

The UK government has shown its hand. TARP II is underway in the US.

If the latest gamut of policy responses dont work - and theres plenty who say they wont - then nationalisation of banks is very much the only option left.

With that in mind, FT Alphaville has rounded up a selection of the pro-nationalisation views currently on offer .

Kicking things off is Paul Krugman, who says nationalisation is preferable to a zombie banking collapse:

many influential people, including Federal Reserve officials, bank regulators, and, possibly, members of the incoming Obama administration, have become devotees of a new kind of voodoo: the belief that by performing elaborate financial rituals we can keep dead banks walking Unfortunately, the price of this retreat into superstition may be high. I hope Im wrong, but I suspect that taxpayers are about to get another raw deal - and that were about to get another financial rescue plan that fails to do the job.

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Taverner Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Jan-21-09 03:37 PM
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