U.S. Asks Swedish Communist To Make America Communist
Do you know what is happening toyour America, America? Communism! Yesterday our friends at the Congressional Oversight Panel for TARP invited a crazy European monster to our country to outline the nuclear option -- "The Swedish Model" -- for fixing our banks. Boo! Go "fix" yourself!
Dr. Sweden's actual name is "Bo," but we prefer Dr. Sweden, so take that.
Bo Lundgren, the steely-eyed head of Sweden's National Debt office, played a leading role in averting the collapse of the Swedish banking sector when a property bubble burst in the early 1990s.
What an asshole!
Now, US President Barack Obama cites Sweden as a possible model of how best to tackle failing banks. Mr Lundgren, who was fiscal and financial affairs minister at the time of the last crisis, yesterday outlined the Swedish solution to the Congressional Oversight Panel, which supervises the US administration's troubled asset relief programme.
"I am a market liberal. I was even called the nearest Sweden had every come to having a party one could call libertarian," said Mr Lundgren, the former head of the Moderate Party with links to the Conservatives.
This did not stop him nationalising two failing major banks in 1992: the already majority state-owned Nordbanken, and the privately owned Gota bank.
"In the case of a crisis, the state needs to be strong," he said. "If it decides to act, it should become an owner."
Dr. Sweden has taken at least 10,000 of your jobs while here.
US calls on "Mr. Fix It" [Telegraph]