January 26, 2009
"The case for full nationalization [of the banks] is far stronger now than it was a few months ago."
"If you don’t own the majority, you don’t get to fire the management, to wipe out the shareholders, to declare that you are just going to take the losses and start over. It’s the mistake the Japanese made in the ’90s. I would guess that sometime in the next few weeks, President Obama and Tim Geithner will have to come out and say, 'It's much worse than we thought,' and just bite the bullet.'"