Matthew Yglesias » Turning Swedish?

Oct 8th, 2008 at 4:08 pm

Turning Swedish?

The Frank/Dodd modification to the Paulson Plan opened up the possibility that it could be implemented as something much more like a Swedish-style (or, now, UK-style) partial nationalization. But most observers assumed that since Paulson would be in charge of implementing it that we wouldn’t go in that direction at least until January. But Justin Fox says that at his press conference today, Paulson seemed to be changing his tune and hinting at a Sweden/UK-style implementation. Krugman says that’s what we ought to be doing.

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12 Responses to “Turning Swedish?”

Jeff Says:
October 8th, 2008 at 4:37 pm
I believe, however, that when he elaborated on the point in the Q+A, he made it sound like he was talking about drawing private capital back in, presumably thanks to the plan’s price-revealing mechanisms and taking some of the bad assets off the institutions’ balance sheets; not more direct recapitalization via equity for the public.
Njorl Says:
October 8th, 2008 at 4:41 pm
The biggest problem I’ve heard about it has been cosmetic – we don’t want no stinkin’ commie bankers. Since people are already calling any bail-out socialism, and people hate the idea of “Wall Street” getting a pile of money, nationalization doesn’t look so cosmetically bad anymore.
mpowell Says:
October 8th, 2008 at 4:44 pm
This whole process has not given me much of an impression that Paulson knows what he’s doing. Why all the back and forth and all over the place?
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Matt Yglesias

Turning Swedish?

12 Responses to “Turning Swedish?”

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