This is so bizarre
. Obama claims that he wants to help the economy and he lets banks fear that they are about to be nationalized. Talk about paralyzing the financial system.
Bank of America Corp. (BAC) (BAC) Chief Executive Ken Lewis capped off a week of defending his bank and his role in it on Friday by firing back against rumors that his company could be in danger of nationalization.
"It's absurd," Lewis said in an interview on CNBC, adding that he knows of no government officials who have talked about nationalizing the bank.
Treasury Secretary Timothy Geithner and other top officials are close to finishing a plan to overhaul the government's $700 billion financial rescue fund. Some investors in recent days have been worried that the government's latest revisions to its lifeline for banks would involve nationalizing many banks. . . .
Labels: nationalization, ObamaAdministration, stimulus