Is it debtor’s prison for the nation’s banks?
According to a sober assessment of the mountain of losses facing some of the nation’s largest banks, the banks could be called insolvent. Calling for more direct government involvement in the banking sector, a group of economists and finance experts claim that without a cure for the bad assets, the credit crisis will linger and banks will not be able to resume the lending that is key to the economy. For what this means for the economy and the nation, we turn to Steve Lohr, a reporter for the New York Times.
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