Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
Exactly the same?

IIRC, the swedish bailout consisted mainly of two things: an unlimited guarantee for bankcustomers to prevent a run on the banks (later scaled back) and the government taking over Nordbanken and Gotabanken (later merged to Nordea and sold of). The banks cost quite some as the debts exceed the assets, though I think it was a bit different to what is happening now in the US.

Citing Grave Financial Threats, Officials Ready Massive Rescue

The plan involves using hundreds of billions of dollars in government funding to buy bad loans, leaving banks with more money and fewer problems, according to two sources familiar with what was said at the meeting.

The main difference would be that the swedish government took over assets and debts (stockholders got nothing, as the alternative would have been bankrupcy), while the US is proposing to take only the bad and leave the good.

Though I have to admit that my memory of the events are kind of sketchy, and I fail to find a good link to back up my memory.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Sat Sep 20th, 2008 at 10:15:06 AM EST
[ Parent ]

Others have rated this comment as follows:

DoDo 4

Display:

Occasional Series