Quote Originally Posted by VanChilds View Post
Okay once you've nationalized the banks and cleared out the toxic assets how do you go back to private ownership? Do the CEOs and board members keep their jobs?

No, they all get the sack. The shareholders get wiped out too. The government cleans up the debt and raises as much as it can to offset the debt by creating new bank stock in the nationalised bank, which is then sold to investors. The governmwent just took over two banksa t the weekend and is in the process of doing this to them as it has with almost twenty this year and lots more to follow.

TM, some bankers will end up working for a million or half a million or whatever the government sets as a cap. There are plenty of unemployed bankers and some of the ones currently at risk of getting a government paycut will accept it as the alternatives are less attractive. This will give the government a bunch of people to point to and say see, we've done what we said we would on executive pay. But most will move to greener pastures. The govt. will actually make loopholes so they can keep as many talented people working for the welfare banks as they can.