Apparently, we have only two choices of what to do with bad banks: keep giving them government money forever, or let the government nationalize them.  This is all explained in the Financial Times.The choice of writing government checks to failed banks is the "Japanese model."  Ooh, bad.  The choice of nationalizing them is the "Swedish model."  Mmmm, good.  So good, in fact, that Republicans Lindsay Graham and John McCain favor it, as well as Barack Obama."You should not get caught up on a word [nationalisation]," [Graham] told the Financial Times in an interview. "I would argue that we cannot be ideologically a little bit pregnant. It doesn't matter what you call it, but we can't keep on funding these zombie banks [without gaining public control]. That's what the Japanese did.""Barack Obama, the president, who has tried to avoid panicking lawmakers and markets by entertaining the idea, has recently moved more...(Read Full Post)