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Education - 2009

Nobel Economist: Nationalize Failed Banks Now

http://www.cnn.com/2009/POLITICS/01/26/stiglitz.finance.crisis/index.html
Scanned by: Alvis Brigis over 8 years ago
Sweden (and several other countries) have shown that there is an alternative -- the government takes over those banks that cannot assemble enough capital through private sources to survive without government assistance. It is standard practice to shut down banks failing to meet basic requirements on capital, but we almost certainly have been too gentle in enforcing these requirements. (There has been too little transparency in this and every other aspect of government intervention in the financial system.)
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Type: Theory  |  Also: , |
  Tags
banks, crisis, finance, financialcrisis, bankcrisis, banking, nationalize, nationalization

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