Are of today the news thatGermany is secretly prepariong a plan allowing the federal government to expropriate and nationalize banks and other financial institutions when other attempts to "save" them prove unviable. We do not know how all of this will differ from the idea of creating the Bad Banks or from President Obama's plan. It is however extremely interesting that this bold move, if at all true, is carried on by a Government of "grat coalition" between right and left.
Once again it seems that mainstream economists, other pundits and the large variety of cantors of the end of history were a little too hasty and a large number of Nobel prizes should be revoked!
The following is the best description of what is going on that I was able to fin:.
" owners of capital will stimulate the working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks, which will have to be nationalised and the state will have to take the road which will eventually lead to communism" Karl Marx Das Kapital 1867