Friday, February 20, 2009

Nationalizing Bad Banks to Save the Rest!

Use this Video Link not the Play Button above.

Yves Smith, editor of The Naked Capitalism blog, thinks it's just a matter of semantics and that nationalization is nothing new. "We already do nationalization in this country. It's called the FDIC resolving banks," she says on Fast Money.

And she tells the traders “nationalization could be a good alternative,” once the government clarifies what nationalization really means. But “we must fix the banks to get out of this economic crisis” and nationalization does the trick.

With nationalization looking more like a question of when – and not if – investors poured into Treasuries and gold briefly pushing up prices to $1000 an ounce before settling lower.