> Nationalisation, long regarded in Washington as a folly of Europeans, is gaining rapid ground among US opinion-formers. Stranger still, many of those talking about federal ownership of banks are Republicans.
Having a bank owned by the Gummint isn’t a particularly bad thing. The New Zealand gummint established “Kiwibank” and it is wildly popular. I bank there.
Having ALL your banks owned by the gummint would be another matter entirely.
Agreed. If they really do what Sweden did, it’s probably a good idea. Far better than the hope-and-pray bailout of this fall. The stockholders eat the loss, but the credit system remains standing.
Then the government cleans up the balance sheet and auctions off the bank. The Swedish government owns no more banks today than before the early 90-ies nationalization. (I.e. they partially own one bank)
That’s a pretty big “if” though.