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'Nationalizing' America's Banks: Rumors and Realities

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Talk of "nationalizing" America's biggest banks, like Citigroup or Bank of America, has frightened investors and caused bank stocks to decline. The Obama Administration insists the banking system will remain private, but yesterday took steps that could lead to government ownership of troubled institutions. Would that mean government management or temporary control until private capital could be raised?  Could it turn into a boondoggle? If it didn't work, would taxpayers be on the hook? We get some answers.

Credits

Guests:
Binyamin Appelbaum - New York Times - @BCAppelbaum, Yves Smith - financial consultant and blogger, Thomas Ferguson - Professor of Political Science, University of Massachusetts, Gerald O’Driscoll - former Vice President, Federal Reserve Bank of Dallas

Host:
Warren Olney

Producers:
Katie Cooper, Frances Anderton, Christian Bordal