"I have cherished the ideal of a democratic and free society in which all persons live together in harmony and with equal opportunities. It is an ideal which I hope to live for and to achieve. But if needs be, it is an ideal for which I am prepared to die." Nelson Mandela @ trial in 1964. RIP
Thursday, May 7, 2009
Nationalizing the banks - that horse has left the barn!
As we all wait anxiously for the "official" results of Treasury's Stress Tests of banks (!) - ponder this from Simon Johnson and James Kwak. It may take a few minutes, to read but they aregue (based on the actual evidence to date) that we are in effect slowly nationalizing banks without using the word, but on the banks' terms, not terms that benefit the U.S. taxpayer or economy in th elong run. They also prove, FWIW, that bloggers can indeed do real journalism.
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2 comments:
Bloggers do REAL journalism?! Get out of town. Now I feel so much more pressure...
Oh come on, you know you love it!
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