Nationalization? Another View

This blog was brought to my attention by Paul Krugman in his own blog: FT.com | Willem Buiter’s Maverecon | Time to take the banks into full public ownership

There is no need for me to add much other than to say that the argument makes sense and the number of voices in the nationalization camp is growing.

How long can it be before a major American bank is nationalized?

If the most urgent issue facing us is still the credit crisis, and a strong argument can be made that the credit crisis is at the root of our current economic ills, then direct action in the credit markets has to be a significant portion of any stimulus or recovery plan.

And nationalization is the most effective way of overcoming the solvency problem at the heart of the credit crisis.