From: "andrew cooke" <andrew@...>
Date: Sun, 12 Oct 2008 19:00:51 -0300 (CLST)
"But history teaches an important lesson: that big banking crises are ultimately solved by throwing in large dollops of public money, and that early and decisive government action, whether to recapitalise banks or take on troubled debts, can minimise the cost to the taxpayer and the damage to the economy. For example, Sweden quickly took over its failed banks after a property bust in the early 1990s and recovered relatively fast." And that from the Economist.... http://www.economist.com/specialreports/displayStory.cfm?source=hptextfeature&story_id=12373696 Andrew