BA and Citi Face Nationalization

[SpareRib]

Without naming the specific banks involved, I believe Masshog predicted this over a month ago.

http://www.reuters.com/article/innovationNews/idUSTRE50F1KI20090116

http://www.portfolio.com/views/blogs/market-movers/2009/01/15/nationalize-citigroup-and-bank-of-america?tid=true

http://www.iht.com/articles/2009/01/16/business/citi.4-409630.php

[Masshog]

I actually had a name other than BOA in mind.  I would be very surprised if there isn't at least one more, also very unexpected. 

[PorcineSublime]

So, does anyone on here see anyway for the government to get out of these deals once the economy gets better? Better yet, does anyone see the Government wanting out? Not that they could screw the pooch anymore than the private sector did, but it makes me nervous have such a concentration of power.

[john c]

So, does anyone on here see anyway for the government to get out of these deals once the economy gets better? Better yet, does anyone see the Government wanting out? Not that they could screw the pooch anymore than the private sector did, but it makes me nervous have such a concentration of power.

I'm filing the current bailouts and corresponding increase in the national debt along with the promise that the cost of the Iraq war would be paid back in oil (can anyone verify that?).  I have virtually zero confidence in the politicians to do anything but politic.  Add to those the coming shortfall in SS and Medicare and possibly payments from the Pension Benefit Guaranty Corporation and it is a big number that has to be overcome somehow.

[SpareRib]

I actually had a name other than BOA in mind.  I would be very surprised if there isn't at least one more, also very unexpected. 

ouch!