The Times has a piece in tomorrow’s paper coalescing the growing number of experts who believe that many of the big banks are insolvent and that — whatever you want to call it — the government is going to have to step in and really resolve the crisis, through some process of seizing the failed banks, cleaning them up and selling them back into private hands.
It’s a difficult process to chart. But the public mind seems slowly to be shifting in this direction.
The article quotes Simon Johnson and Adam Posen, both of whom we’ve interviewed in recent days on TPMtv. Click the links to see the interviews.
