Want to see how bad things are? Just look at these charts.
The first is Citibank :
That is what it has come to. Now. lets look at the next one :
This is Bank of America :
Now, coming to our topic, Friday saw both these companies come under tremendous pressure, anyway at 2 dollar levels what more can we say of the pressure. But the talks of imminent nationalization of American banks, that's right I did say nationalization! led to that mayhem.
Stocks tumbled on Friday, with the Dow industrials ending at a 6-1/2-year low. Uncertainty about how Washington will rescue beleaguered banks persisted even as the White House issued its most direct statement yet on banks, saying it supported a privately held banking system.
The question is can it walk the talk?
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