February 12, 2009

She Can Save Us

I'll admit when I hear a solution to the banking crisis called the "Swedish Model" I end up thinking of something more like this:

But what we are really talking about is how Sweden handled its own banking crisis back in the 1990's. Basically we nationalize the insolvent banks, wipe out the current shareholders, sort out the assets, and then resell the banks back into the private sector. Its hard on the current bank management and the current shareholders, but it's the best deal for taxpayers and the best way out of this mess.

Of course lots of people are balking at the word "Nationalization." So I say we tell those people that the banks are going to be taken over by a group of six-foot tall blonds.

We can get everyone behind the "Swedish Model" if we sell it hard enough.

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