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Roubini pulls out a bazooka…
Nationalize the Banks! We’re all Swedes Now
By Matthew Richardson and Nouriel Roubini
Sunday, February 15, 2009
The U.S. banking system is close to being insolvent, and unless we want to become like Japan in the 1990s — or the United States in the 1930s — the only way to save it is to nationalize it.
As free-market economists [...]