Posted on 03/31/2008 6:18:47 PM PDT by shrinkermd
“Norway ensured that shareholders of insolvent lenders received nothing and the senior management was entirely purged. Two of the country’s top four banks - Christiania Bank and Fokus - were seized by force majeure.
“We were determined not to get caught in the game we’ve seen with Bear Stearns where shareholders make money out of the rescue,” said one Norwegian adviser.
“The law was amended so that we could take 100pc control of any bank where its equity had fallen below zero. Shareholders were left with nothing. It was very controversial,” he said.”
Wasn’t that just before the Nordic countries started to de-nationalized companies and re-introduce more capitalism to save their economies?
That is a very informative book.
I’m for that. We can call it FreeRepublistan. The moose will be our mascot, and cheese will be the national food.
Wow. This is insane even by RINO standards.
Tells the same story in abbreviated format. Tragic that most people no longer read, isn't it . . .
No you start arresting and frog marching and executing the bastards who have willfully destroyed the US financial markets and system.
They are traitors, pure and simple and deserve a hangman’s noose.
I agree with you. Watch that Bloomberg video I just posted. It’s a detailed interview with billionaire Jim Rogers. He comes out and says the Fed is acting outside its authority under federal law. Helicopter Ben is simply bailing out his cronies. The bailout permits Wall Street to pay billions in bonuses.
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