At the historic moment when the House of Representatives passed Hank Paulson’s bail-out bill last Friday night — thus, we must hope, despite early indications to the contrary, significantly improving the world’s chances of avoiding economic cataclysm — I was conducting some research into the Scandinavian solution.
I don’t mean the policies followed by the Swedish government to steer its banking sector through a near-terminal crisis in the early 1990s, of which more in a moment.
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