[lbo-talk] Russia tanking

Michael Pollak mpollak at panix.com
Fri Feb 20 12:18:00 PST 2009


On Fri, 20 Feb 2009, Doug Henwood wrote:


> That works both ways: Dodd said a few hours ago that Geithner has
> considerable leeway in enforcing the pay caps.

FWIW, he also said in the same interview that he too now foresees that nationalization of some banks may be necessary -- sending bank shares down another 20%.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aEvPzrV6pF88&refer=home

Dodd Says Short-Term Bank Takeovers May Be Necessary (Update2)

By Alison Vekshin

Feb. 20 (Bloomberg) -- Senate Banking Committee Chairman Christopher

Dodd said banks may have to be nationalized for "a short time" to help

lenders including Citigroup Inc. and Bank of America Corp. survive the

worst economic slump in 75 years.

"I don't welcome that at all, but I could see how it's possible it may

happen," Dodd said on Bloomberg Television's "Political Capital with Al

Hunt" to be broadcast later today. "I'm concerned that we may end up

having to do that, at least for a short time."

<end excerpt>

Michael



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