According to Nouriel Roubini, the only solution to clean the toxic assets from the global banking system is to nationalize banks. See his comments on: http://www.rgemonitor.com/roubini-monitor/255546/nationalize_the_banks_were_all_swedes_now
I think he is right. To what extend the Obama's administration will have the courage to move forward to that solution? If the toxic assets are not cleaned within the next 3 months we will run into a stag-deflation economy (near depression) and we might be stuck for 10 years in an economic crisis.
Saturday, February 14, 2009
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