What We Can Learn From Asia
Abe de Ramos, Asia Society | October 24, 2008
Financial bailout plans enacted by governments help to revitalize market confidence but do not address the fundamentals of the financial crisis. ++ Governments have failed to closely check banks' balance sheets – they should learn a lesson from Asia. ++ First, the situation of financial institutions has to be assessed before asset management companies can aquire “non-performing loans at a fraction of face value.” ++ Agencies should be assigned to “close insolvent banks, nationalize ailing ones, and recapitalize viable ones.”
