Re: An alternative to nationalization - give the government options
Why would any bondholder swap their bond for worthless equity?...the banks are bankrupt.How much are the deposits in the banks worth...of course the deposits should be safeguarded.This NAMA buisness seems like a way of stringing out the whole sorry mess and a strung out government trying to play for time and hoping that something will happen to resolve or improve the situation.
First of all the shareholders ,and I`m one of them ,should be told their shares are worthless.
People must realise that the banks will have to be run prudently and have to be very careful lending money in these recessionary times. There is massive overcapacity in small buinesses and a lot of them are going to fail...its called capitalism.