Dean Canova Quoted on Bailout
March 3, 2009
Associate Dean Tim Canova was quoted in an article in U.S. Bank, entitled “More Shares Drop.” The article describes the U.S. government’s bailout of financial institutions such as Citigroup and AIG as teetering on nationalization. While some economists are opposed to nationalization, Dean Canova states, “I am skeptical of these arguments of the government’s impotence . . . Somehow Sweden, a country with little more than 8 million citizens, managed to nationalize its banks without crashing its currency and having a run on its financial system. There’s no reason to expect a run on 14,000 institutions.” Read article …