Barry Ritholtz who writes the blog ” The Big Picture” was on CNBC Fast Money to argue that the current “bad bank” idea that the Treasury is considering, is a terrible solution.
Barry says the government should:
- stop interfering with the markets;
- nationalize the banks;
- wipe out the debt, fire the management, wipe out the shareholders;
- spin out the valuable assets with the taxpayers as owners;
- sell the assets so the taxpayers will be compensated;
- recapitalize the banks.
See Barry Ritzholtz on CNBC’s Fast Money (1/29/09) |
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