Interest ups in lowered interest of nationalized banks
Posted by Dave Bath on 2009-02-20
Suddenly (and far to late), people are jumping on the bandwagon for nationalizing the banks: even Alan Greenspan ("The Maestro Says Nationalize" 2009-02-19 in The Economist Free Exchange).
First: can see that in my stats. Second: The Economist obviously doesn’t watch Oz politics based on the "last man standing" comment.
About 6 months ago I wrote a post reporting research showing that &nationalized banks provide lower interest rates, which was a slow-burner until the last week or so, then a couple of huge spikes. Let’s hope there more interest in other posts (here, here, here, here, here, here, here) pushing governments demanding equity in return for largesse and moving back as a market player
The second eyebrow raiser was a snippet from Free Exchange on the website of The Economist:
Once heralded as the orchestrator of rapid growth and the master of the business cycle, Mr Greenspan is now seen as the progenitor of a failed theory of central banking, and the last man to recognise the troubling nature of the housing bubble.
Uuuurrrrgh… excuse me? Politicians (at least in Oz) haven’t stopped inflating the bubble. Home buyer and builder grants haven’t stopped recently, have they? Has the negative gearing rort been fixed and I’ve been off-planet?
Besides, it’s not just nationalization of banks we need.
- "Napkin stimulus thoughts 2" (2009-02-05)
- "Krugman echoes in favor of nationalization" (2009-02-03)
- "Catchcries" (2009-01-24)
- "Oz climate policy levers "Jeffed" by state premiers" (2008-12-21)
- "‘Rightsizing’ is better than ‘Recession’" (2008-11-30)
- "Sarkozy’s smart move" (2008-11-09)
- "Nationalized banks=Lower interest rates" (2008-07-29)
- "Environment and nationalization" (2007-05-30)