rraintl

Why the Market Wants Banks Nationalized

Please, lets get away from ideological dogma and get down to facts. Bankers in the US are not private enterpreneurs. They are private businesspeople, licensed and regulated by federal and state govenments to act in a professional and responsible way to invest the money of the depositing public in appropriate assets, mostly loans. Profit extracted in this process generally encourages investment in these institutions, bolstering capitalization and tweaking performance. The current situation is obviously out of whack. Bankers and shareholders have failed in their fiduciary responsibilities. Licenses need to be revoked, management changed and shareholders will loose. Books need to be cleaned up, appropriate rule changes need to be made, and the banks recapitalized. (nationalization?). And we need to get on with it already!