It seems as if we are to hear what the plan is going to be for the US Banking System as early as this week. My we are in a pickle. Maybe a pickle jar. Maybe a pickle pool. Maybe an ocean of pickels. What is the likely outcome????? I offer to you not my opinion, but those of a smarter bunch then I.
First up is George Soros who wrote a thoughtful piece in the FT last week called “The Right and Wrong Way to Bail Out the Banks.” He points a key element of the challenge – “the hard choice facing the Obama administration is between partially nationalising the banks, or leaving them in private hands but nationalising their toxic assets.”
Up second is Baseline Scenerio – a blog I have recommended to you before – that will link you to two recent opeds from the FT and the WP – both worth the read.
Will we end of with a Nationalized Banking System? You tell me……….