People, you need to do your homework. Freepers have a way of just being stupid . . . What is nationalization? What was it in Sweden? What was it for WAMU? It can be and it should be bankruptcy and federal receivership. Then privatization. That’s what bankruptcy is. Do freepers really support the current system (created by Bush) of giving the banks taxpayer money, taking preferred stock and telling them what they can and can’t do? That’s socialism—or fascism. I say nationalize them. Bankrupt them—they are bankrupt. Wipe out the share holders and bondholders. Quit propping them up. Put the remainder back into private hands—secured creditors or the highest bidder. The Japanese bank zombie path is a proven failure. Think people, think!
Ok, that’s interesting but I don’t see Greenspan or Graham talking about bankruptcy.