> RoMunn wrote: > Good analysis in this article about why nationalization is such a bad idea, > and why it is being considered anyway. > > http://www.iht.com/articles/2009/01/26/business/26banks.php >
I'll have to read it, but my 2 cents pre-read is that we only have 2 choices: 1.) nationalize the banks. 2.) nationalize the toxic 'assets' the banks have I don't like bailing people out especially bankers who are busy taking $10M bonuses after taking gov't money and redecorating their offices to the tune of $1M apiece. So I'm for nationalizing if only to eject current management, re-org the entire sector, and then re-sell back to the public. We've got classic market-failure here. ---- I'll also bring in auto too. Why bail out executives who've failed? The big argument against auto nationalization and an activist "car czar" is that he/she will tell the auto companies what cars to build (electric), which'll kill the companies because it's not market driven. Well guess what? The so called market-driven companies drove themselves into bankruptcy so clearly that's not working either. Again, market failure. -- So same problem different industry. Why?? Not just market failure, but institutional failure. Our entire system of managing public companies to build long term wealth has failed due to a childish pursuit of short-term wealth. And the current pipeline of executives is NOT ready to change. Thus market failure. In those cases the government must step in and re-org not just the companies, but the industries and the institutions. Since institutional failure is clearly the problem and re-organization is clearly the answer, we better get to work. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:286699 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
