February 21, 2009
Damn You, Sweden!

From Gail Collins today:

We are trying not to get too fixated on the fairness aspects of the bailout. However, this approach seems to resemble a plan in which you fix a classroom that’s distracted by one disruptive pupil by sending said troublemaker to a private school in Lucerne equipped with an on-campus ski lift while the rest of the kids stay at Millard Fillmore Elementary, sharing textbooks…

Instead of dancing around the problem, can’t we just have the government take over the impacted banks, hire all the unemployed bond traders to figure out how much the toxic assets are worth, dispose of them for whatever the market will bear and then sell the newly reconstituted banks back to private investors? That was Sweden’s approach, and it worked rather well.

The answer is that Americans will never do anything that Sweden does. Never have, never will. Don’t argue with me. It’s a rule.


Posted by Jerome Doolittle at February 21, 2009 12:15 PM
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i've heard of the sweden plan... it might be one of the few I can see bringing the current situation to a head.... not sure I understand all the details... but it seemed to work for Sweden..

one love,
--reverend manny and the twilight empire

Posted by: Reverend Manny on February 21, 2009 4:18 PM

We're not about to do any thing that makes sense. The most important thing is that the labels that might be attached are consistent with our misperceptions. If it even smells like socialism then its no go. We are quite content to drown so long as it is with the correct labels.

Posted by: knowdoubt on February 21, 2009 4:56 PM

It may not be the best recovery model - on scale I'm not sure US to Sweden will work, but it's a good model, perhaps the best - but it is an excellent model were, ohhhh... say Oregon, Washington, N Idaho and W Montana, British Colombia, The Yukon and Alaska were to calve themselves of the continent they're not actually a part of anyway...

We can start with a wall - from Eureka California to Eureka Montana. Think of it as a Public Works Project.

Posted by: Ten Bears on February 21, 2009 6:24 PM
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