krugman.blogs.nytimes.com - 3/4/2009
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One objection you keep hearing to nationalization pre-privatization as part of a bank restructuring effort is that the US financial system is just too big and complex. Here's Obama himself, presumably repeating what his advisers told him:
Sweden, on the other hand, had a problem like this. They ...
nytimes.com - 3/8/2009
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nytimes.com —
THE financial crisis grows weirder by the day.
When philosophical conservatives like Alan Greenspan start talking about...
nationalizing banks, you know you’ve passed into some kind of parallel universe. Why are so many people entertaining an idea that ...
(more)
Economic View - Nationalize the Banks? Hey, Not So Fast ...
cbn.com - 3/12/2009
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cbn.com —
, Sweden: Growing Muslim Influence By Dale Hurd
CBN News Senior Reporter March 12, 2009 CBNNews.com -...
MALMO, Sweden -- A few years ago, the London Guardian newspaper called Sweden the most successful society the world has ever known. But Sweden today ...
(more)
Malmö, Sweden: Growing Muslim Influence - World - ...
krugman.blogs.nytimes.com - 3/8/2009
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krugman.blogs.nytimes.com —
A quick note (quick because I'm on deadline
for the column) on several arguments out there: 1....
I just don't understand a lot of what my colleague Alan Blinder wrote. In particular, I don't understand how the good bank/bad bank solution is possible ...
(more)
Anti-nationalization arguments
Comments
Blog Reactions
Bankster of the day
Corrente —
... Question: What do you think about nationalizing the banks?
Answer: I think Roubini, Dodd and Greenspan haven’t thought this one through. The U.S. isn’t Sweden, and not just because our blondes aren’t au naturel.[sic**] Their successful approach revolved around a handful of banks but we have 7,500, as well as many S&Ls and credit unions, which would have to be flushed into government hands.
Bzzzt! As Krugman points out: Read more…
It’s Only, Like, Four Banks
Suburban Guerrilla —
As Krugman points out.
Things to read
The Sideshow —
... So, the argument is supposed to be that the Swedish model can't work for America because Sweden only had five problem banks, whereas the US has "thousands". So how many banks are we talking about in America? Not thousands. Hmm... ...
Stunning Doses Of Reality
JustOneMinute —
... leave an entity (or entities) with about $1.5 trillion in assets and $1.4 trillion in liabilities to be taken over by foreign governments or fail in pretty much the same unruly manner that Lehman Brothers did. What? A $1.5 trillion financial institution being salvaged and/or savaged by the governments of Europe, Asia, and the rest of the world acting in glorious concert? That is either the funniest thing I have read today or the scariest. And in the same funny/scary vein, here is Paul Krugman, head cheerleader of the Nationalize Now team , utterly missing the distinction ...
Related Content
Obama on Nationalization
calculatedriskblog.com 2/11/2009 — Terry Moran at ABC News interviewed President Obama today (airs tonight). Here are some excerpts : (hat tip Paul Kedrosky ) TERRY MORAN: There are a lot of economists who look at these banks and they say all that garbage that's in them renders them ...
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yglesias.thinkprogress.org 2/11/2009 — In response to a very good question for ABC News’ Terry Moran, President Barack Obama specifically addressed why he’s rejected a “Swedish” approach to the financial crisis:
There are two countries who have gone through some ...
Barack Obama on Sweden
marginalrevolution.com 2/11/2009 — Read this post; here is Obama speaking:Sweden, on the other hand, had a problem like this. They took over the banks, nationalized them, got rid of the bad assets, resold the banks and, a couple years later, they were going...
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