The Bishop and the Butterfly: Murder, Politics, and the End of the Jazz Age
    oleeb's picture

    Why not ationalize the banks?

    As Dean Baker points out in a post today, when you consider the situation, it makes more sense for we the patsies (I mean taxpayers), to natonalize the banks than it does to attempt to rescue them with tons and tons of money we don't have but will have to repay at some point and for which we will get nothing in return.  Other than ideological reasons, I see no reason why we should not nationalize all the insolvent institutions and pursue prosecution for any and all malfeasance in the financial industry that led to this horrific mess.  Looks like that is the approach the Brits are going to take and I certainly have more confidence in their policymakers than in ours.

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