Gov’t looks to quell nationalization fears (AP)

Posted by admin on February 27, 2009 under News | 4 Comments to Read

Gov’t looks to quell nationalization fears (AP)

File photo shows people entering a Citibank branch at the US bank Citigroup world headquarters on Park Avenue, in New York. US authorities said Monday they would seek to avoid nationalization of troubled banks under a new capital aid program but some analysts contend the plan may lead to effective government control.(AFP/File/Emmanuel Dunand)AP – The U.S. government on Tuesday sought to quell concerns that the administration is moving toward nationalization of the country’s ailing financial system, but said it would provide additional support to banks that do not have an adequate buffer to survive in an even worse economy.


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