“It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,” he [Greenspan] said. “I understand that once in a hundred years this is what you do.”
“We should be focusing on what works,” Lindsey Graham, a Republican senator from South Carolina, told the FT. “We cannot keep pouring good money after bad . . . If nationalisation is what works, then we should do it.”
Read the FT for more.