Nationalisation linkfest

[RedEarth]

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 don’t work - and there’s plenty who say they won’t - 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 I’m wrong, but I suspect that taxpayers are about to get another raw deal - and that we’re about to get another financial rescue plan that fails to do the job.

........more

http://ftalphaville.ft.com/blog/2009/01/20/51410/nationalisation-linkfest/

[Taverner]

1. Let's hear it SOCIALISM! SOCIALISM! SOCIALISM!!!!!