Quoting Ann Davis <[email protected]>:
The Swedish model as a solution to the bank crisis, as proposed in
the Financial Times.
Ann
The Swedish model is the best hope for western banks
By Christopher Wood
Ann, thanks for sending this and also the Greider piece.
More and more attention is being given to the Swedish model, but it is
not a model for us for two reasons: (1) it was temporary, not
permanent; and (2) there were no significant debt-holders in the
Swedish case, only depositors and stock-owners. It is easy to decide
what to do about these two: guarantee the depositors and wipe out the
stock-owners. What to do about the debt-holders is more controversial.
Otherwise, I agree with a lot that Wood says. Has anyone read his book
The Bubble Economy on Japan? He seems to have predicted the bursting
of Japan's bubble.
Fred
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