Don't like the word "nationalize"? Let's try the word "receivership"

[many a good man]

Definition
A form of bankruptcy in which a company can avoid liquidation by reorganizing with the help of a court-appointed trustee. http://www.investorwords.com/4084/receivership.html


Several regulatory entities have been granted power by the Congress to place banking and financial institutions into receivership. The Office of the Comptroller of the Currency for failing nationally-chartered commercial banks, the Office of Thrift Supervision for Savings and loan associations (thrift institutions), and the Federal Housing Finance Agency (FHFA), for government sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac and the 12 Federal Home Loan Banks. Most individual states also have granted receivership authority to their own bank regulatory agencies, and insurance regulators. http://en.wikipedia.org/wiki/Receivership


I don't hear anyone calling for permanent nationalization, only temporary. Isn't that what receivership is? I think the connotation of receivership puts more emphasis on the failure of the banks while "nationalization" is more easily spinned to sound like some kind of devious socialist plot by right wingers and liars in the media.

[izquierdista]

1. With conditions

I would like to see all CEOs at failing banks tarred and feathered first. Then have the executive boards take vows of poverty and wear sackcloth and ashes until they are out of receivership. They liked it when the going was good, now it's time to pay the piper.