The problem, as illustrated by Barney Frank rescuing a particular bank in his home district by fiat, is that members of Congress will be pushed by their constituents to steer money their way. More money equals more influence, and all of a sudden you have Congress running the banking system. No thank you.
If it comes to that, I would rather see the banks fail, have the shareholder wiped out, and start over. On Mon, Jan 26, 2009 at 10:48 AM, Gruss G wrote: > > 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 > > > > But Sanger is missing the point: "nationalization" needn't mean the > gov't running the banks. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| 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:286736 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
