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Are all these Governmet bail outs sustainable?
Scores of Capitalist countries are bailing out its Capitalist failures, is this economically sustainable?
1 Answer
- GourdmanLv 61 decade agoFavorite Answer
Not at all. They're not even a good idea, because they don't work.
Sweden took a very different approach in 1992 in response to a bank crisis. They nationalized insolvent banks and gradually sold them off to investors. The result was a strong economy and a net gain for taxpayers.
http://www.nytimes.com/2008/09/23/business/worldbu...
Japan, on the other hand, bailed out their banks in 1990, creating the conditions for the "Lost Decade" of economic stagnation.
http://www.npr.org/templates/story/story.php?story...
So which blueprint did we follow? The one that failed miserably, of course!
