drieuxster (drieuxster) wrote,
drieuxster
drieuxster

Swedish Threat To The Free World Continues Brutal Oppression!!!

A banking system in crisis after the collapse of a housing bubble. An economy hemorrhaging jobs. A market-oriented government struggling to stem the panic. Sound familiar?

It does to Sweden. The country was so far in the hole in 1992 — after years of imprudent regulation, short-sighted economic policy and the end of its property boom — that its banking system was, for all practical purposes, insolvent.

But Sweden took a different course than the one now being proposed by the United States Treasury. And Swedish officials say there are lessons from their own nightmare that Washington may be missing.

Sweden did not just bail out its financial institutions by having the government take over the bad debts. It extracted pounds of flesh from bank shareholders before writing checks. Banks had to write down losses and issue warrants to the government.

That strategy held banks responsible and turned the government into an owner. When distressed assets were sold, the profits flowed to taxpayers, and the government was able to recoup more money later by selling its shares in the companies as well.

“If I go into a bank,” said Bo Lundgren, who was Sweden’s finance minister at the time, “I’d rather get equity so that there is some upside for the taxpayer.”

[ cf Stopping a Financial Crisis, the Swedish Way ]
Shocking!!!!

Just SHOCKING!!!!

How can we have National Socialism, where we nationalize privatization of profit, and socialize the risk, if we are threatened on all sides by the Swedish Communist Party and it's Jack Booted Islamo-Fascist-Zionist-Communist-Papist-Mormonist-TheyThemThoseTypes!!!!

We are @War and do not have the luxury of a bunch of tweedy swedish film watching liberalisms!!!!

Besides, how can one hold the banks responsible for the fact that Wall Street has been a hot bed of evil liberals!!!!! How could they have known!!!!
Tags: economics, war
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