Let\’s nationalise the banks!

Come one now, we all know that it was the greed in the freemarket banking sector that caused all of our problems! Just nationalise the lot of them and be done with it!

During the financial crisis, problems with Germany\’s state-owned banks brought the country\’s financial system to the brink of collapse and received billions in bailout funds. But they are still in terrible shape. Now, the billions in toxic assets still on their balance sheets could be passed on to taxpayers. And as a group of former managers and academics have now pointed out, little is being done about it.

Eh?

What?

You mean that state owned banks got into the same, possibly even worse, problems? So nationalising the lot of \’em won\’t work?

Humph, well, back to the drawing board then.

One comment on “Let\’s nationalise the banks!

  1. The idea that profit seeking is intrinsically unstable and morally dubious should have the same status as fear of usury or the labour theory of value. Oh wait, they’re still alive and well in the minds of leftist ideologues and the populist-collectivists.

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