Nationalize the Banks, For Good
It is a case of too little, too late for British PM Brown’s second banking-bail out. ++ The current halfway measures are a recipe for failure and “risk turning recession into slump.” ++ The solution is clear: nationalize the banks. ++ Calls for nationalization are coming from economist and CEOs alike, yet the Labour legacy leaves ministers allergic to the prospect of government-run banks. ++ Regulation is not enough: the banking sector has proved itself too important to be left in the hands of profiteering private companies.
