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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 TribuneThis 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."
http://www.iht.com/articles/2008/09/28/opinion/edbildt.php or http://snipurl.com/3xljb Frode Hegland The Hyperwords Company 59 Brewer Street, London W1F 9UN, UK +44 121 288 6767 +44 (0) 207 3655 269 www.hyperwords.net richly interactive textPlease consider the environment - do not print this e-mail unless absolutely necessary! Also, we recommend that you never use your computer monitor at more than 60% brightness to save electricity (unless you are working in a very bright environment, in which case you should turn down the office lights or draw the blinds on your windows). Please also turn down your heating and put on a sweater or turn down the air conditioning and take off your jacket, as the case may be. Traveling to and from work by public transportation (or walking or cycling depending on distance and circumstance) has been shown to significantly reduce the modern office worker's carbon footprint, as does becoming a vegetarian. Wasting company time by reading this email signature may force the company to hire more people and therefore double the carbon footprint your job should have taken (plus it will make the company generally more uncompetitive and hence more wasteful) so do not read this message.
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- Sweden's crash and recovery - International Herald Tribune David Farber (Sep 29)