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    why even vote on it..., 2009-03-02 08:10:37 | Main | the hydrogen heat economy..., 2009-03-02 16:17:43

    strange company:

    The opposition to some form of bank nationalization seems to consist now entirely of the Obama administration, William Isaac, and Ron Paul.

    The Obama solution seems to be dumping money into the nation's gigantic money hole and holding quarterly money bonfires on an ad hoc basis. This seemed to be more popular when George Bush was doing it with no strings attached - I guess if their friends have to jump through hoops when absconding with the nation's wealth the editors of the Wall Street Journal aren't interested in the deal.

    I gather that William Isaac believes this crisis is all a fiction of accounting rules and has proposed, via his net worth certificate program, that the solution is to ignore bank insolvency until it goes away. I can only assume Ron Paul would prefer to leave the banks to enter into unstructured bankruptcy if life is really so bad, and he probably doesn't really believe it is for the same reason as Isaac.


:: posted by buermann @ 2009-03-02 09:04:38 CST | link





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