Calculated Risk responds to Obama's words on nationalization:
...stop and think about what Obama is saying. We know the correct answer, but we are afraid to do it - because of our "culture" - so we are going to follow the Japanese plan.
Roubini also wants to nationalize:
Wasting another 6-12 months may risk turning a U-shaped recession into an L-shaped near depression but currently [nationalization] is not yet politically feasible.
This article available online at:
http://www.theatlantic.com/daily-dish/archive/2009/02/the-swedish-model/205775/
