Welcome to the new version of European Tribune. It's just a new layout, so everything should work as before - please report bugs here.
Display:
The plan is not two years too late. Two years ago (on October 1, 2008, to be precise) the plan would have been different, a straightforward regulatory intervention of insolvent banks, putting the banks in receivership, dismissing the management, and splitting the banks' good assets and important liabilities (i.e., deposits) into a going concern and the bad assets (plus any net equity of the good bank) and unimportant liabilities into an entity with the sole purpose of carrying out a bankruptcy liquidation.

Keynesianism is intellectually hard, as evidenced by the inability of many trained economists to get it - Paul Krugman
by Migeru (migeru at eurotrib dot com) on Fri Feb 4th, 2011 at 08:47:11 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

Mogg the Moggie

by Frank Schnittger - Jun 15
17 comments

Boris the Beast

by Frank Schnittger - Jun 11
29 comments

Global Community Gathers in Russia

by Oui - Jun 14
17 comments

A Perfect Storm

by Frank Schnittger - Jun 1
157 comments

Fake America In 3 Tweets

by Oui - Jun 3
17 comments

Occasional Series