"The Bush administration's handling of the financial crisis is in part inspired by a successful Swedish bank rescue in the 1990s, but one crucial deviation could cost US taxpayers dearly, one of the architects of the Swedish plan said on Monday.
http://www.thelocal.se/14496/20080922/ "In principle (the United States) is following approximately the same route we did, but the (slightly different) model chosen, I'm afraid, could cause problems," Bo Lundgren, head of the Swedish National Debt Office and who recently briefed US authorities on Sweden's experience, told AFP. Unlike Washington's proposed $700 billion bailout for faltering financial institutions, which has been described as a "no strings attached" deal, Sweden in the early 1990s took control of its struggling banks in exchange for emergency aid, thus making the taxpayers footing the bill owners of the ultimately valuable assets. Once the crisis was over, the Swedish state sold off nearly all of the nationalized bank investments, getting back most of the money that had been pumped into the sector." On Sep 22, 2008, at 3:55 PM, Jersey Shore John wrote: > "Sen. Jim DeMint (R-S.C.) said he opposes the $700 billion bailout of > Wall Street investment firms, a move that could threaten swift > passage of the emergency legislation. > > http://tinyurl.com/52upvk > > In a statement announcing his objections, DeMint did not say whether > he planned to filibuster the proposal. > > After reviewing the administration's proposed bailout plan, I > believe it is completely unacceptable, DeMint, chairman of the > Senate Republican Steering Committee, said in the statement. This > plan does nothing to address the misguided government policies that > created this mess and it could make matters much worse by socializing > an entire sector of the U.S. economy." > > On Sep 22, 2008, at 2:23 PM, Jack Pitzer wrote: > >> So, here we are spending billions to spread democracy around the >> world, meanwhile we are >> approaching socialism. Nice. >> >> --- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote: >>> >>> --- In AsburyPark@yahoogroups.com, Jersey Shore John >>> <jerseyshorejohn@> wrote: >>>> >>>> Now, after your personal attacks, on this board and to my personal >>>> email, a call for "peace". You sanctimonious hypocrite. >>>> >>> >>> The bailout of AIG - $75 billion >>> >>> Just another day on the Yahoo AP Board - Priceless! >>> >> >> >> > > > > [Non-text portions of this message have been removed] > > > ------------------------------------ > > Yahoo! Groups Links > > > ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
