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Bank Nationalization Redux

The number of economists and commentators saying that the Western financial system should be nationalized is swelling. 1. Paul Krugman thinks it is unfortunate that "Washington remains deathly afraid of the N-word --- nationalization. 2. Willem Buiter...

Cold Callers, RIP

Despite the vocal claims of Indian industry about a credit crunch, bank credit is growing at a torrid pace. See latest RBI data here But I suspect that most of this money --- most of the "non-food" part, that is --- is being lent to companies...

Banks Are Not Charities

There has been a lot of valid criticism about the way the finance ministry has been arm-twisting banks to reduce lending rates. Here's a quick recap. "A day ahead of the interaction with public sector banks, Finance Minister P Chidambaram today...