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Thursday, January 15, 2009

If It Walks Like a Duck, Quacks Like a Duck...

From Bloomberg News:

Bair Would Be Surprised by U.S. Bank Nationalization

Jan. 15 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said today said she would be “very surprised” if the government took over any large U.S. banks.

“I’d be very surprised if that happened,” Bair told reporters in New York, responding to a question about whether the agency would have to nationalize any large banks.

Regulators seized 25 U.S. lenders last year, the most since 1993, as a deepening recession spurred a rise in foreclosures that hurt bank profits. Bank of America Corp., the biggest bank by assets, plunged in New York trading today on concern it may need additional U.S. aid to absorb losses after acquiring Merrill Lynch & Co.

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