Greenspan: Nationalization Now
February 18, 2009 by Pelikan · Leave a Comment
Filed under: Banking, U.S. Economy, U.S. Financial Crisis
Filed under: Banking, U.S. Economy, U.S. Financial Crisis
From the Financial Times:
The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman, has told the Financial Times.
In an interview, Mr Greenspan, who for decades was regarded as the high priest of laisser-faire capitalism, said nationalisation could be the least bad option left for policymakers.
”It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,” he said. “I understand that once in a hundred years this is what you do.”
- Greenspan backs bank nationalization – Financial Times
