Diary

Proof that people at Reuter's are smoking crack

How else could you explain this paragraph (emphasis mine)?

Support for nationalization seems to be growing, even among some Republicans. Sen. Lindsey Graham, considered one of the Senate’s more conservative members, said recently that nationalization could be an option and former Federal Reserve Chairman Alan Greenspan has said government intervention could be the least bad alternative left.

Oh and by the way these comments from Dodd killed the market today.

Bank of America and Citigroup shares fell as much as 35 percent by mid-session after Sen. Christopher Dodd, a Democrat who chairs the Senate Banking Committee, said it might be necessary for the government to take control of some banks.