Banks to be Nationalized…
”It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,” he said. “I understand that once in a hundred years this is what you do.”
Alan Greenspan, Feb. 18, 2009
“If nationalisation is what works, then we should do it.”
Sen. Lyndsey Graham, R-S.C.
”You would have to be very careful about imposing any loss on senior creditors of any bank taken under government control because it could impact the senior debt of all other banks,” he said. “This is a credit crisis and it is essential to preserve an anchor for the financing of the system. That anchor is the senior debt.”
Alan Greenspan
Proprietary Traders Worldwide
