Tuesday, February 10, 2009

Nationalize Them

So sez Roubini (can click through to watch video).

Feb. 9 (Bloomberg) -- Nouriel Roubini, a professor at New York University, talks with Bloomberg's Kathleen Hays about the banking industry and housing market.

Roubini, who forecast the U.S. recession two years ago, says the U.S. government will have to nationalize some of the biggest banks because they are now "effectively insolvent." (Source: Bloomberg)

Or we can just light a pile of money on fire and then... nationalize them.