Professor David Beim says there is a template for successfully nationalizing banks but that it doesn't apply to Citi. "The problem with Citi is that it's absolutely enormous," Beim says. "Citi has a balance sheet of about $1.9 trillion. Who in the world is going to be buying that?" To cleanse Citi of its bad assets, Beim suggests shrinking the bank and selling off individual pieces.
Banks as big as citi have gone backrupt, nothing new. In the end it was much less pain then keeping a monstorous zombie as a money pit forever.
Ever heard of the lost decade? Seems like you guys over at Columbia never studied history.
savemyplaylist 2 years ago
worked real good in japan... history shows that if the government lets the banks go under, it's actually better off for the economy.
savemyplaylist 2 years ago