Saturday, March 07, 2009
17th US bank nationalized this year - yesterday
There is such a lot of noise about whether or not banks in trouble should be nationalized. Yet it happens every day. Any bank which is truly on the brink of failure, in the normal course of events is taken over by the Federal Government so that depositors can be repaid. It occasions no outcry - in fact only approval. So it is clearly not nationalization itself which is the issue, but the size of the bank alone.