The Swedish Model

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.