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February 19, 2009

Greenspan Backs Nationalization of Struggling Banks
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Former Federal Reserve Chair Alan Greenspan has endorsed the
nationalization of struggling US banks. In an interview with the
Financial Times, Greenspan said, “It may be necessary to temporarily
nationalize some banks in order to facilitate a swift and orderly
restructuring. I understand that once in a hundred years this is what
you do.” Greenspan’s embrace of neoliberal policies during his Fed
tenure has been criticized for helping to cause today’s financial
crisis.



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