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**Symnunidanimb** · 02-18-2009, 03:55 PM

Japan and Sweden's banking crises in the 90s have shown that unless the government takes control of sick banks with insurmountable debts, and totally reform the bad debt, and appointing new people, the banks under current management will not do much or even do nothing- because they will want to believe the good old days are not over yet.

I think its something to be considered, and even a close McCain ally, Sen. Lindsay Graham, no friend of bank nationalisation, thinks it may come down to that. Its the Democrats who are afraid that they will be accused of being socialists by the neo-cons and fiscal conservatives and that's why some of them are balking initially. After all, its Nancy Pelosi, a San Francisco democrat, who's balking. Its ironic, but its also true.

02-18-2009, 03:55 PM	#6
Symnunidanimb Join Date Oct 2005 Posts 389 Senior Member	Japan and Sweden's banking crises in the 90s have shown that unless the government takes control of sick banks with insurmountable debts, and totally reform the bad debt, and appointing new people, the banks under current management will not do much or even do nothing- because they will want to believe the good old days are not over yet. I think its something to be considered, and even a close McCain ally, Sen. Lindsay Graham, no friend of bank nationalisation, thinks it may come down to that. Its the Democrats who are afraid that they will be accused of being socialists by the neo-cons and fiscal conservatives and that's why some of them are balking initially. After all, its Nancy Pelosi, a San Francisco democrat, who's balking. Its ironic, but its also true.
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