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Who Should Bail Out the Banks?

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journal contribution
posted on 01.12.2005, 00:00 authored by Allan MeltzerAllan Meltzer

The title of this session asks: "Who should bail out the banks?" The simple answer is "no one". I could give that answer and say no more, but there is more to be said.

Let me begin by discussing what I mean by a "bail out". A "bail out" implies that there are going to be losses. Banks are experiencing losses — a shrinkage in the real value of their assets. I don't suppose one needs to dwell on that subject in Texas at this time.

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01/12/2005

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