B of A nationalization

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Cucumber
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B of A nationalization

Postby Cucumber » Sat Feb 21, 2009 3:07 am

Get this on the CNN homepage today as their main story they were talking about part of the reason that stocks went down a lot this week was fear that Bank of America and Citigroup are going to be nationalized!!!! :eek: Citigroup dropped 33% to $1.68 today!!!!!!! They say "Citi never sleeps" well yea I wouldn't be able to sleep either if my stock was at a buck and I owed the government hundreds of billions :ppp

Do you think this nationalization will really happen? I would have doubted that 6 months ago but not it is looking like anything is possible. I guess Bank of America has a good name already if it becomes owned by the govt so at least they won't have to change the name ;)
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fffresh
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Postby fffresh » Sun Feb 22, 2009 10:40 pm

It's speculation; nationalization of the banking system will happen when hell freezes over. America was built on capitalism and the foundation of capitalism is banking. Do you honestly believe that will be taken away?

Kino
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Postby Kino » Mon Feb 23, 2009 10:27 pm

Hey I say let them take over BofA if it means lower interest and no more late fees hehehehe

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Postby Multi-Purpose » Tue Feb 24, 2009 7:18 pm

They won't do a full nationalization ever. What they will do is called is a "temporary management" of the bank instead. That sounds better than saying that truth which is that the country's biggest banks are massive failures and they need to take them over because they can't run themselves.

That
would be the straightforward way to say it.

;)
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bozell
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Postby bozell » Sat Feb 28, 2009 4:57 am

there were two more failures today. friday i guess is the day to announce bank failures. iberia bank though gave back their bailout money today so it is a mixed bag this week.

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Postby Floppster » Wed Mar 04, 2009 8:18 pm

Let them take over all the banks. Let them nationalize every bank and GM go bankrupt.... :eek:
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955

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Cucumber
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Postby Cucumber » Fri Mar 06, 2009 4:10 am

Floppster wrote:Let them take over all the banks. Let them nationalize every bank and GM go bankrupt.... :eek:


Citi is at a buck and well you know GM's story. Be careful what you wish for because it's very possible right now.
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