:: Over the past few days, there has been a lot of noise bandied about re nationalization of the banks. One entity has been noticeably silent, however. From TPM:
Late Update: Writing about an hour ago, Krugman provides some key context on what's actually happening here and what it means. These banks are already insolvent. They've been able to stay afloat because the markets have believed that the federal government has implicitly guaranteed their obligations. "What's happening now is a growing sense that the federal government, in return for rescuing these institutions, will demand the same thing a private-sector white knight would have demanded -- namely, ownership."
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