Fed eyes Nordic-style nationalisation of US banks

[ensho]

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/31/cnfed131.xml


-snip-



The Fed has been criticised for its rescue of Bear Stearns, which critics say has degenerated into a taxpayer gift to rich bankers.

A senior official at one of the Scandinavian central banks told The Daily Telegraph that Fed strategists had stepped up contacts to learn how Norway, Sweden and Finland managed their traumatic crisis from 1991 to 1993, which brought the region's economy to its knees.
-snip-
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I didn't read any further then this...................

[alfredo]

1. No. Our government wants businesses to be free, but control us.

[ensho]

2. so its alright with you all if our banks are nationalized?

no comment on how this would favor the neo cons?

[SoCalDem]

4. More than banks need it..

Energy needs it too
so does health care

[madokie]

6. I don' t know about the banks but the energy and health care industries sure do

back through the years banks haven't gotten too much from me as up until I married at 42 I paid cash or done without for most everything. Our present system of supply and demand is not working because of collusion, or what I would call collusion, between the many companies. Seems like our antitrust laws were thrown out the window about the time this shit we find ourselves in today began.

http://en.wikipedia.org/wiki/Antitrust

[tama]

5. Yup

If done correctly, IE following the Venezuelan example and starting socializing from Federal reserve and putting it under democratic control (well getting real democracy in US would be the first step...).

This plan, the example bank bail out with taxpayer money of Nordic countries during the depression in 90s has nothing to do with socialism, on the contrary. It's just corporate fascism of privatizing the profit and socializing the rist.

[flor de jasmim]

3. An important point: the shareholders were left with NOTHING - it was "controversial"!

[dysfunctional press]

7. the major shareholders have made their investments back, many times over.

fuck 'em.