Greenspan backs bank nationalisationBut... but... I thought the market was magically self-correcting?... and whatever happened to self-regulation deriving from enlightened self-interest???
By Krishna Guha and Edward Luce in Washington
Published: February 18 2009
The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman has told the Financial Times.
What would Milton Friedman be doing if he were alive today?
Scene: inside a coffin(Okay: it's a bad joke.)
FRIEDMAN (scratching wildly at the coffin lid): Let me OUT!!!