Fed eyes Nordic-style nationalisation of US banks

News Type: Event — Seeded on Mon Mar 31, 2008 5:21 AM EDT

Article Source: Telegraph

A senior official at one of the Scandinavian central banks told The Daily Telegraph that Fed strategists had stepped up contacts to learn how Norway, Sweden and Finland managed their traumatic crisis from 1991 to 1993, which brought the region's economy to its knees.

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PasiDeleted

{"commentId":1639147,"authorDomain":"ottawahitech"}

othDeleted

{"commentId":1640320,"authorDomain":"cplmcl"}

Prospero1

I'm intriqued by the idea in the title, that the Fed might actually make itself part of the government, instead of the privately-held gravy train it currently is. Can that be possible?

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3 votes

#3 - Mon Mar 31, 2008 1:51 PM EDT

{"commentId":1641144,"authorDomain":"igmuska"}

igmuska

In my opinion the whole issue reminds me of that cartoon where the vacuum sucks itself to nothingness. Wasn't socializing our banking system the drift taken by the smaller credit unions? Perhaps the banking industry needs to consider whether to become people-based, rather than profit-based. But whatever the case, I feel that this whole issue will lead to a re-valuation of our currency, basing it more on real assets, rather than on interest payments.

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2 votes

#4 - Mon Mar 31, 2008 5:24 PM EDT

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PASI

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Fed eyes Nordic-style nationalisation of US banks

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