“Nationalization” has been the word of the last month, with support not only from the usual suspects, but from Lindsey Graham, Alan Greenspan, and (to some degree, although they won’t say the word) Richard Shelby and John McCain. However, different people ascribe different meanings to this word; in particular, opponents like to define nationalization as the government taking over every bank permanently and turning banking into a government service.
One Response to “Nationalization for Beginners”
Guest • March 10th, 2009 at 1:55 pm
Let’s be creative here. The worst banks should be nationalized in the following manner: hive off a solid balance sheet and launch this as an ipo under new management. Take the rest of the balance sheet and send it to bankruptcy court. Let the creditors squeeze the remaining assets, as well they should.
