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Greenspan: Nationalize Those Banks!

As reported in today’s Financial Times, Alan Greenspan whose conservative credentials are impeccable argues for the nationalization of banks: FT.com / US / Politics & Foreign policy – Greenspan backs bank nationalisation Now, if people like Greenspan and Senator Graham, neither of whom would I call liberal let alone socialist, are calling for nationalization of […]

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California: Into Oblivion?

I don’t think it is possible to make this story worse. California is on the brink of financial collapse. It is so close to the precipice that each day is now vital for its economic survival. California has long had a peculiar and toxic public finance record. After all Orange County went bankrupt a few […]

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Open Comment To Simon Johnson

FYI. I posted this comment on Simon Johnson’s blog this afternoon. He had advocated, among many things, a wholesale changing of the guard in bank boardrooms. “Not to annoy anyone, but: Where do we get the new and presumably better directors? Who are they? And who are the new managers? Where will they come from? […]

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