As banks falter, more critics call for receivership

By Michael Kranish Globe Staff / March 7, 2009

WASHINGTON - With major banks flailing and criticism swelling in some quarters over how President Obama is handling the crisis, a growing chorus of economists, former top government officials, and analysts is calling on the Obama administration to put the institutions into federal receivership and closely follow the model of how the government dealt with the savings and loan crisis.

They avoid the word "nationalization," but say that some major institutions that have received billions in taxpayer money might otherwise be insolvent.