Friday, February 20, 2009

IDEA OF NATIONALIZATION OF BANKS CAUSE STOCK SHARES TO FALL!


NEW YORK/FRANKFURT (Reuters) - Shares of Bank of America Corp and Citigroup Inc plummeted for the sixth straight day on Friday, hammered by increasing fears that the U.S. government could take the control of the banks, wiping out shareholders.

Bank of America shares were down 6.6 percent to $3.66 in premarket trading, their lowest level since 1984, while Citigroup fell 12.3 percent to $2.20, their lowest price since 1991. The Frankfurt-listed shares of the banks also fell.
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