Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
A company "too big to fail" needs to either be nationalised or broken up.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Wed Oct 1st, 2008 at 06:47:18 AM EST
[ Parent ]
but nobody seems to care about this new problem we're creating right now.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Wed Oct 1st, 2008 at 07:01:42 AM EST
[ Parent ]
Well, at one level it's a problem we can look at next week/month, but it will need dealing with.
by Colman (colman at eurotrib.com) on Wed Oct 1st, 2008 at 07:05:45 AM EST
[ Parent ]
If we want to avoid pre-judging, the "nationalisation" and subsequent "breakup" can take place after it has failed and seen as too big.

Nationalisation of a bankrupt company wiping out shareholders and creditors should not be seen as a bad thing. It's definitely better than a straight bailout.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith

by Migeru (migeru at eurotrib dot com) on Wed Oct 1st, 2008 at 08:03:56 AM EST
[ Parent ]

Display:

Top Diaries

Occasional Series