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To: tom pope who wrote (25896)2/17/2008 9:22:46 PM
From: IRWIN JAMES FRANKEL  Respond to of 52153
 
Northern Rock - Maybe I am missing the point.

But a government taking over a financial institution that is failing and unable to recapitalize itself is not "nationalization" in the sense of taking away the owners private property rights. Nor is it at all surprising.

It certainly is a sign of stress in the system but we have been aware of major stress for months now. And whether we like it or not systemic risk ultimately rolls up to the Central banks.

ij



To: tom pope who wrote (25896)2/17/2008 9:23:37 PM
From: Ian@SI  Read Replies (1) | Respond to of 52153
 
Tom,

I referred to the Nationalization of NR.

After re-reading the messages, you were probably commenting on TD's "roiling the market" comment.

I can't see old news roiling the markets and certainly not news of Govt bailout money coming to the rescue.

Ian


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