Calls for bank nationalization are beginning to echo across the land !

first roubini and now taleb..

i told everyone a couple months ago this was inevitable and everyone scoffed.

trust me,its coming..

"The US Banking System is Insolvent": Dr. Doom

Taleb Says Nationalize Banks, You Can’t Trust Them

Welcome to the new USSA.

 

I heard another potential problem with the U.S gov't running these banks is that politicians may feel pressured to get some of that bank money directed towards their constintuents for any and everything. Which obviously won't be the best way to run and manage these banks.

Also this nationalization needs to be clarified. Will it be temporarily done?

 

What do you think of the Chilean approach to their financial crisis?

What We Can Learn From Chile's Financial Crisis - WSJ.com

 

Wow. Sounds like they got it figured out, and i sure hope someone pays enough attention to implement/copy their plan.

Thanx for the link! :cheers2:

 

I like this part:

You'd think those great minds in Washington would be aware of this.

 

Chile is a "Socialist" country. You know that, right?

They have nationalized banks.

 

Misconceptions

There are a few misconceptions that when banks are nationalized, the government controls those banks. But who controls the government? The corporations and the banks do. The government is simply the vehicle for consolidation. The end game is a completely MANAGED economy, which can only be done through government. However, the corporate and banking elite still call the shots.

 

yep.

 

Could you clarify what you mean by Chile having nationalized banks? The central bank is autonomous and they have only one state run bank.

 

Chile nationalized its banking sectors when it went through economic turmoil. It has since, subscribed to the liberalization of trade and open-market economies to allow foreign banking investments access to the Chilean population and industries.

Chile diversified its privatized industry portfolio after they were able to sustain domestic protection and control over their vital resources.

This same methodology cannot be applied to the United States, because they have no nationalized-public industries strong enough to count as the bread and butter before opening up to foreign investments.

 

Care to provide some links to those claims?

 

www.google.com

 

Nice try ~

No banana.

No links, eh?

Figures...

 

No research skills, eh?

Figures.

 

Well, you're the one posting the supposed facts ~

i just asked for some supporting links.

It that's too tough,

whatever.

 

You need to distinguish taking over a failed banking industry, recapitalising it, and then selling it, which has happened many times in many countries, and nationalising healthy banks as some sort of socialist economic vision.

Nationalisation has a huge stigma attached to it, so governments right now are trying to avoid it even when it might be a better option. Even when what they are doing is de facto nationalisation, they still avoid the real thing.

 

Nationalization is nationalization...

 

It is, but not all nationalisations lead to the same thing, as I explained.