The Swedish Solution (or not)
When talking about nationalizing banks Sweden is often mentioned as a model for success. The problem is, this isn’t exactly true. Planet Money talked to the vice chairman of the Swedish Central Bank. The high points: 1. Sweden had only 4 to 6 big banks (big relative to their economy) 2. The government owned 80% [...]
Government Transparency
The government promised transparency related to the bailout. That transparency doesn’t extend to how much companies receive in order to manage the bailout. Mellon Bank will administer the auctions and then track the assets and their disposition. The amount of Mellon’s compensation is redacted from the contract. The the contracts for the accounting firms that [...]
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