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The Timing Of Nationalization
ByAndrew Sprung notes Nuriel Roubini's advice for Obama:
"I think that we're going to see the policy adopted in the next few months . . . in six months or so." That long? I ask. "Six months from now," he replies, "even firms that today look solvent are going to look insolvent. Most of the major banks -- almost all of them -- are going to look insolvent. In which case, if you take them all over all at once, you cause less damage than if you would if you took over a couple now, and created so much confusion and panic and nervousness."
Take your time, but hurry up.
