Would you rather see failing banks nationalized or allowed to
fail?
THIS WEEK’S QUESTION:
“Would you rather see failing banks nationalized or allowed to fail?” Nationalized: 7 Fail: 2
? Chris Bryant: “Only through failure will the fundamental changes necessary for long term stability of the remaining banks be implemented.”
? David Cohen: “Nationalized. I believe it will bring more stability to the economy than having very large banks fail. That would be a prescription for another Great Depression.”
? Dennis Kennedy: “I think a structured program of temporary and partial federal ownership is needed to prevent banks from failing.”
? Julian Mancias: “Nationalized. The banking system failed in it’s ability to regulate itself. Nationalizing the banks could be costly in the short term but profitable once the economy improves.”
? Linda McNulty: “That’s a hard one to answer. I think if it pulls us out of the recession it should be considered but this is certainly a decision that should be made by high paid consultants … not me.”
? Henry Miller: “Isn’t that much like saying ‘Do you still beat your wife?’ I think that other alternatives, such as the ‘loans’ granted to Lockheed and Harley Davidson, among others, is a far better solution than either nationalization or failure.”
? Lisa Pampuch: “Of those two extremes, I prefer nationalization. But I suspect that what we’ll actually see is a hybrid where banks that get taxpayer assistance have to submit to more government control over their lending and compensation practices.”
? Emily Shem-Tov: “Nationalized, at least to some extent, if it helps clean up the mess in the credit markets and gives people and businesses access to the financing they need.”
? Steve Staloch: “We have no choice if we are to avert a financial meltdown. The complex reality is the major banks have sold toxic loans to each other, often providing default payment guarantees. In other words, if one fails, many fail. The rules of capitalism at its best no longer apply to our banking, automotive and many other major industries.”
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