Saturday, February 21, 2009

Just say "No"!

"The White House on Friday insisted it's not trying to take over two ailing financial institutions, even as stocks tumbled again. On Wall Street, talk of nationalization of Citigroup Inc., and Bank of America Corp., prompted investors to continue to balk, worried that the government would have to take control and wipe out shareholders in the process.

Citigroup fell 20 percent, while Bank of America fell 12 percent in afternoon trading but also came off their lowest levels. . . .

When a reporter suggested Gibbs could do that by saying point blank that Obama would never nationalize banks, Gibbs would not make that statement, but emphasized: "I think I was very clear about the system that this country has and will continue to have.""

If a portion of the market decline of recent days is attributable to fears that Obama will nationalize banks, and Obama doesn't plan to ever nationalize banks, and Obama wants to help reverse the market decline, Obama must simply and clearly say he will never nationalize banks.

If he won't, don't be surprised if people think he will, and act accordingly.

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