Citigroup (C) apparently is now 36% controlled by Uncle Sam. Everyone is singing the blues but no one has an alternative. The interesting side tidbit is that Singapore and Prince al-Waleed bin Talal of Saudi Arabia, will also swap up to $27.5-billion worth of preferred shares for regular stock. This ... Read more

The Wall Street Journal says that the federal government is in talks to put more capital into Citigroup (C) and may end up owning 40% of the big banks. According to the paper, “While the discussions could fall apart, the government could wind up holding as much as 40% of Citigroup ... Read t ... Read more

Previously I expressed some thoughts on nationalization in The Nationalization Train Has Left The Station . Greg Mankiw suggests wait a minute, this is just nomenclature as the FDIC shuttering banks would itself be nationalization. Yves Smith at Naked Capitalism discusses this in Greg Mankiw in ... Read more

The Financial Times is reporting Alan Greenspan Hops On Board The Nationalization Express and is sitting in the bar car next to Nouriel Roubini. The next stop is D.C. The US government may have to nationalize some banks on a temporary basis to fix the financial system and restore the flow of ... Read more

Terry Moran at ABC News interviewed President Obama today (airs tonight). Here are some excerpts: (hat tip Paul Kedrosky ) TERRY MORAN: There are a lot of economists who look at these banks and they say all that garbage that's in them renders them essentially insolvent. Why not just nationalize ... Read more

From the NY Times: Nationalization Gets a New, Serious Look [M]ost members of the Obama economic team concede that the rapid deterioration of the country’s biggest banks, notably Bank of America and Citigroup, is bound to require far larger investments of taxpayer money, atop the more than $300 ... Read more