What is Nationalization? It means to put under government ownership and/or control a private sector institution.
Like a grassroots tsunami wave, the blogs are now a buzz with the concept of nationalization of the banks. But we pointed out, months ago, by nationalization, Sweden had the best result and least pain during their financial crisis.
Tony has made a list of some of the nationalize now blog posts sprouting up like mushroom clouds in a nuclear implosion.
Indeed on EP we have multiple posts on nationalizing the banks and for reference we have A Little History of Financial Crises. This post is a must read for it gives a eight century history of various financial crises, solutions, what worked and what did not.
Below is a CNBC interview with Nouriel Dr. Doom Roubini. If his estimates are accurate, the United States might just well be throwing good money after bad and we must consider following the path of Sweden. Should we bypass this money shower now and start pressuring our government to nationalize now instead?