Bernanke: It Is Difficult For Governments To Nationalize Banks



U.S. Federal Reserve Chairman Ben Bernanke addressed the country's economic crisis at the National Press Club this afternoon. He was asked a question as to whether or not he agreed with his predecessor Alan Greenspan's comments to the Financial Times about bank nationalization. From NPR:

"As a general rule it is very difficult for (governments) to nationalize banks ... whatever needs to be taken in one way or another ... there is a responsibility for the administration to return banks to private hands as soon as possible."

Bernanke succeeded Alan Greenspan as chair of the Federal Reserve on February first 2006.