Is Nationalization to follow when they find out whats really under these balance sheets?
By ERIC DASH
Published: February 11, 2009
Nearly 100 federal banking regulators descended on Citigroup in New York on Wednesday morning. Dozens more fanned out through Bank of America, JPMorgan Chase and other big banks across the nation.
It was just another workday. For years, regulators have embedded themselves inside the nation’s major banks to monitor their financial health. But now these regulators could become the arbiters of American finance. Treasury Secretary Timothy F. Geithner is empowering them to decide which banks are strong enough to survive on their own — and which must be compelled to accept new bailouts from Washington, along with any strings that might be attached to them.