Posts tagged…Nationalization

Facing the facts (about banks)

Thu, Feb 19 2009

"’It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,’ [Allan Greenspan] said. ‘I understand that once in a hundred years this is what you do.’" Extract from Financial Times

The most inconvenient fact is the questionable solvency of the banks, which has frozen credit markets.