The Wall Street Journal is reporting that the government may end up owning a 40% stake in Citibank. [WSJ]
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Time to send a message to the folks in Washington that they are taking the wrong steps in the wrong direction...
[www.taxrevolt2009.com]
@Roycester: maybe you could elaborate on this? the website looks like a call for ca voters to pass a new prop 13. i don't see how that impacts washington at all...
We need banks. We need to do what needs to be done despite all the nonsense from the idealogues. The FDIC has plenty of experience, unfortuntately, of taking over failed banks and successfully turning them around. Of course none of the failures have ever been as large as what we are looking at now. Kills me how much I read about how this administration is using scare tactics. On the contrary, they have not told us how bad things really are and how much worse they can get. We are staring at the abyss of the second worse economic downturn in American history. Doing nothing is not an option.



Nationalization by any other name?
Discuss...
(That's more of a genuine question than a statement, it's just starting to look a lot like Nationalization Lite to me.)