frank miller

[alice wellintown]

> I agree with this, and the question is still whether what was done addressed the problem or just  rewarded it  with vain hopes it doesn't happen again. It rewarded fraud. What we did was nationalize the toxic assets. We should have nationalized the banks that  were failing, got rid of the decision makers who made the mess, hired good people and motivated them with more modest rewards for the desired outcomes.

It rewarded fraud. In the grand scheme of things this is almost a
silly thing to focus on. Not that we should condone fraud, but the
problem was huge and in need of immediate fixing,  something needed to
be done. There were few options and none were perfect. But
nationalization of the banks was not the best solution. It wasn't
needed anyway. The fact that fraud was rewarded while disaster was
averted doesn't suppor the nationalization option nor does it really
support the idea that lower paid good people would man the national
banks and not commit fraud.