Taxpayers eventually benefited from early '90s move to recapitalize busted system
(NEWSER) - One option to save US banks: follow Sweden’s lead and nationalize them. Sweden’s banks were essentially bankrupt in the early 1990s, but a center-right government took them over, and taxpayers ultimately reaped the benefits, the New York Times reports. Troubled assets were isolated into a single “bad bank,” to be sold when the climate improved; meanwhile, tax dollars capitalized the banking system. More»
