AFL-CIO set to urge that bank nationalization be accelerated

03/4/2009 |

The executive council of the AFL-CIO is scheduled to approve a statement recommending that the Obama administration take aggressive action to nationalize troubled banks and clean up their balance sheets, according to this article. The labor federation reportedly says in a draft statement that the current piecemeal approach is "a path that leads to 'zombie banks' and long-term economic stagnation."

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