Titolo

Seven Myths. Nay: Seven Follies (II)

3 commenti (espandi tutti)

In case you were wondering what the bailout money going to banks was being used for, here's one of its main uses (other socially valuable uses include keeping the regular managerial salaries up, redoing the interior decoration, purchasing the assets of a few loosers who did not get bailed out, and so on ...).

Let's look at the silverlining: if they consume it, maybe it provide a "stimulus" ...

Even Paul gets it right, sometimes ...

Frankly: let's nationalize the banks. I am serious: given the circumstances and the choices the two administrations have made, let's nationalize them all and manage them for a year or two. Then we can sell them off, in tranches, to the best buyers. They will come, the buyers. Maybe from China or Dubai, or even Europe, but they will come.

Oh, you're saying the banks are a strategic asset? Like nuclear bombs you mean? I see ...