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Bank Nationalization

Banking Union Time Bomb: Eurocrats Authorize Bailouts and Bail-Ins

Ellen Brown | Posted 05.31.2014 | Business
Ellen Brown

On March 20, 2014, European Union officials reached an historic agreement to create a single agency to handle failing banks. Media attention has focused on the agreement involving the single resolution mechanism, a uniform system for closing failed banks.

It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors

Ellen Brown | Posted 06.03.2013 | Business
Ellen Brown

When Americans realize that the alternative is to have their ready cash transformed into "bank stock" of questionable marketability, moving failed mega-banks into the public sector may start to have more appeal.

QE for the People: Grillo's Populist Plan for Italy

Ellen Brown | Posted 05.07.2013 | World
Ellen Brown

If Grillo's party comes to power and follows through with his platform, those shackles on the Italian economy might actually be released.

Ensuring Scottish Sovereignty: Exploring the Public Bank Option

Ellen Brown | Posted 02.06.2013 | Business
Ellen Brown

Perhaps the Scots will blaze a trail for economic sovereignty in the EU, just as the North Dakotans did in the U.S.

QE Infinity: What Is It Really About?

Ellen Brown | Posted 12.03.2012 | Business
Ellen Brown

It will not achieve those things because it consists of no more than an asset swap on bank balance sheets. It will not get dollars to businesses or consumers on Main Street. So what is the real purpose of this exercise?

Culture Zohn: Don't Occupy: Dance!

Patricia Zohn | Posted 10.14.2012 | Arts
Patricia Zohn

2012-08-14-pullimageZOHN.jpg Dance has had a history of being conjoined with politics. I can envision a group of flamencas at the massive new Goldman Sachs headquarters or at the Capitol rotunda facing down Paul Ryan and his budget.

Three Principles for a New Wall Street

Don Tapscott | Posted 12.20.2011 | Business
Don Tapscott

If the industry doesn't initiate reform from within then it will eventually have more extreme reform imposed from outside.

Redefining Chutzpah: Wall Street Using Bailout Money to Kill Financial Consumer Protection Agency

Les Leopold | Posted 05.25.2011 | Business
Les Leopold

With a straight face, the captains of Wall Street like are telling us that they don't need to be heavily regulated -- that regulations will kill innovation and stifle consumer choice.

Ken Lewis, BofA Management Made Millions On Nationalization Rumors

Bloomberg News | David Mildenberg | Posted 05.25.2011 | Business

May 19 (Bloomberg) -- Bank of America Corp.'s directors and top managers, including Chief Executive Officer Kenneth Lewis, made about $6.57 million by...

Confidence Game

Robert Kuttner | Posted 05.25.2011 | Business
Robert Kuttner

The same Treasury department that did not hesitate to fire GM's CEO seems determined to keep zombie banks and their zombie managers intact at all cost. And all cost, in this case, could be trillions.

U.S. May Convert Bailouts To Common Stock: Back Door To Nationalization?

New York Times | EDMUND L. ANDREWS | Posted 05.25.2011 | Business

WASHINGTON -- President Obama's top economic advisers have determined that they can shore up the nation's banking system without having to ask Congres...

The Problems of Nationalizing the Banks Remain

Hale "Bonddad" Stewart | Posted 05.25.2011 | Business

Asking a bank which prudently managed its risk to now kick that prudence to the curb because it took TARP money sets a politically dangerous precedent.

Jason Linkins

Former McCain Adviser Calls For Bank Nationalization | Jason Linkins | Posted 05.25.2011 | Politics

Via Matt Yglesias, it would seem that Douglas Holtz-Eakin, who advised John McCain on economic matters, has come out in favor of bank nationalization....

AIG, Populist Rage, and the Future of Banks

Howard Schweber | Posted 05.25.2011 | Business
Howard Schweber

Lately the torches-and-pitchforks voices have begun to drown out serious discussion. Time to take a deep breath or two: populist rage is a rotten basis for policy-making.

The Change We Need I: A Bank for America

Sanjiv Gupta | Posted 05.25.2011 | Business
Sanjiv Gupta

If there is a positive side to the financial crisis, it is this: We can no longer avoid confronting the limits of our democracy when our lives and communities are thrown into violent disarray.

Nationalization: It's Not Scary, It's All Around You

David Sirota | Posted 05.25.2011 | Politics
David Sirota

Before we get scared about the prospect of nationalization, let's remember: nationalization already pervades far more than the banking industry -- it's all around us.

Nationalizing Banks, AIG, Carmakers: The News And What It Means

Huffington Post | Julie Satow | Posted 05.25.2011 | Business

UPDATE: A new USA Today/Gallup poll finds that a majority of Americans (54%) favor a temporary government "takeover" of major U.S. banks, but a much l...

Roubini: Temporary Bank Nationalization Is The Market-Friendly Solution

CNBC | Posted 05.25.2011 | Business

Nationalizing insolvent US banks is the best solution to avoid a Japan-like scenario in which 'zombie' financial institutions would eat up public reso...

Nancy Pelosi: "Nationalizing" Banks Is Simply "Semantics" (VIDEO)

Huffington Post | Nicholas Graham | Posted 05.25.2011 | Politics

MSNBC reports that Speaker of the House Nancy Pelosi, speaking to reporters, said that the discussion over the federal government's latest moves to pr...

Things I Don't Get

James Moore | Posted 05.25.2011 | Business
James Moore

Rick Santelli and others are guilty of extreme hypocrisy, the type that only raises its moral head when it serves a particular constituency.

Sam Stein

Paterson: Nationalization Should Be On The Table | Sam Stein | Posted 05.25.2011 | Politics

New York Governor David Paterson said Friday that he is cautiously open to bank nationalization, now a front-burner political issue, as a measure to a...

Why Is Geithner Continuing Paulson's Policy of Violating the Law?

William K. Black | Posted 05.25.2011 | Business
William K. Black

Paulson and Geithner's refusal to comply with the law has already cost the taxpayers scores of billions of dollars in unnecessary costs. Geithner indicated Friday that he would continue to flout the law.

Obama's Revised Bailout Plan Could Lead To Nationalization | Binyamin Appelbaum and David Cho | Posted 05.25.2011 | Business

The Obama administration yesterday revamped the terms of its emergency aid to troubled financial firms, setting a course that could culminate with the...

Krugman: The Case For Nationalization

New York Times | Posted 05.25.2011 | Politics

Comrade Greenspan wants us to seize the economy's commanding heights. O.K., not exactly. What Alan Greenspan, the former Federal Reserve chairman -- ...

An Open Letter to David Axelrod

Robert Kuttner | Posted 05.25.2011 | Politics
Robert Kuttner

It will take much stronger medicine to avert a depression than the measures taken to date, and the president needs to rally public opinion if he is to persuade Congress to act at the necessary scale.