Wednesday, February 18, 2009

Obi-wan, What Is it?

"I felt a great disturbance in the Force, as if millions of Randians suddenly cried out in terror and were suddenly silenced. I fear something sensible has happened."
Greenspan backs bank nationalisation

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.

In an interview, Mr Greenspan, who for decades was regarded as the high priest of laisser-faire capitalism, said nationalisation could be the least bad option left for policymakers.