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Sweden's crash and recovery - International Herald Tribune
From: David Farber <dave () farber net>
Date: Mon, 29 Sep 2008 09:41:38 -0400

Begin forwarded message:

From: Frode Hegland <frode () hyperwords net>
Date: September 29, 2008 8:56:22 AM EDT
To: Dave Farber <dave () farber net>
Subject: web: Sweden's crash and recovery - International Herald Tribune

This just seems obvious to me (having had it explained to me!): Bail out the institutions but not the investors:

"However, my experience in dealing with an even worse situation - though in regard to a far smaller economy - is that there are perfectly sound and adequate tools at hand if you want to stabilize the situation and regain confidence in the markets."


"To establish a firm base for further measures, the government, backed by the opposition, issued a bank guarantee that provided protection from losses for all creditors except shareholders. There was no specified sum mentioned in the Parliament's legislation, and the government got a wide mandate to act in other respects as well."




Frode Hegland
The Hyperwords Company
59 Brewer Street, London W1F 9UN, UK
+44 121 288 6767
+44 (0) 207 3655 269

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