Word: bankses
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After the bursting of Japan’s asset bubble in the late 1980s, its economy showed little growth in a period known as the “Lost Decade.” Over the following years, Japan injected capital into banks that were likely to be insolvent so that...
During the banking crisis of 1992, Sweden forced its banks to write down all of its toxic assets, took an equity stake in a handful of the largest banks at the cost of their shareholders, and eventually resold the healthy assets on the public market. Since the government held the...
Though Sweden is, of course, an attractive model, we must remember that it was successful because the banks were successfully reprivatized. We must make sure that, if we do nationalize the banks, we minimize the barriers for the private sector to buy healthy bank assets in the future. Also, we...
President Obama has acknowledged the success of the Swedish model, but he says that “cultural differences” and the relative complexity of our banking system make the model unfit for America. However, only the 19 biggest banks would be up for government receivership. Moreover, keep in...
These optimists are focusing on some surprising data emerging from the Chinese economy. The purchasing managers index (PMI) - a measure of the health of the manufacturing sector - has inched upward since November, indicating that China's important industrial sector isn't decelerating as quickly as it did in the preceding...