Nationalization of banks – not happening!

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White House has said that nationalization of banks isn’t a solution and it has no plans to nationalize Bank of America and Citigroup. A big concern regarding the nationalization of these banks was the fate of shareholders. Robert Gibbs, press secretary of White House, has said that the government believes that banking system should be private with some regulation by the government.

It seems that the confidence of investors is declining in the banks. In the case of Citigroup and Bank of America, investors and the government have already provided enough help. As the confidence of investors decreases and they pull their money out, the problems for the banks increases further and further as they suffer from bad assets.

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Posted by admin   @   24 February 2009 0 comments

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