Feb 24, 2009

Paging Dr. Doom

Doctor Doom”, Nouriel Roubini, now beats the drum for government takeover of the most troubled banks. (Citi closed at $1.95/share Friday.) With Alan Greenspan and Senator Lindsay Graham jumping on this bandwagon is the dirty word, nationalization, a pending reality? Would temporary government ownership of these insolvent institutions keep us from facing a decade like Japan’s lost decade of the ‘90’s? Sweden did it successfully. Do we have the political will to follow their lead?

*Post submitted by Amy Hennessy, Davidson Fine Arts Magnet School