nationalization

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Feds' Bank Aid Smacks of Nationalization
Feds' Bank
Aid Smacks of Nationalization
ANALYSIS
Jan 16, 2009 9:18 AM CST

Feds' Bank Aid Smacks of Nationalization

Washington may have no choice but to take majority stakes

(Newser) - The federal government may be forced to effectively nationalize some of America's biggest banks, a notion gaining traction as Bank of America and Citigroup teeter on the brink of insolvency. While Washington has shown extreme reluctance to take ownership stakes in corporate banks, it may now have no choice, the...

Will US Nationalize Banks?
 Will US 
 Nationalize 
 Banks? 
ANALYSIS
Jan 16, 2009 8:00 AM CST

Will US Nationalize Banks?

As red ink continues to flow, more experts say some nationalization is likely

(Newser) - With US banks likely to need as much as $2 trillion in capital in coming months, more experts are seeing semi-nationalization as a distinct possibility, writes Reuters reporter Dan Wilchins. The government already is using its $700 billion bailout to put pressure on banks. The Obama administration is on record...

Putin Pounces on Private Companies
Putin Pounces on Private Companies
Dec 8, 2008 8:42 AM CST

Putin Pounces on Private Companies

Kremlin uses financial crisis to further its aims of 'renationalizing'

(Newser) - Vladimir Putin has insisted for years that Russia made a colossal mistake by privatizing the nation's giant reserves of oil, gas, and other natural resources after the fall of the Soviet Union. The president-turned-prime minister has made muscular efforts to renationalize those industries—most notoriously the Yukos oil company, whose...

No Euphemisms: Let's Nationalize GM
 No Euphemisms: 
 Let's Nationalize GM 
OPINION
Dec 2, 2008 8:18 AM CST

No Euphemisms: Let's Nationalize GM

Move would boost economy, environment

(Newser) - As Detroit extends its tin cup to DC, the government is making a lengthy list of preconditions and checking it twice. Why not keep things simple and nationalize the struggling GM? Any government loan wouldn’t be big enough, and despite all the misplaced anger directed at the Big Three,...

Chavez: 'Hola, Comrade Bush'
Chavez: 'Hola, Comrade Bush'
Oct 16, 2008 6:06 AM CDT

Chavez: 'Hola, Comrade Bush'

Irony of White House plans to buy stakes in banks isn't lost on Venezuelan prez

(Newser) - A smirking Hugo Chavez noted the US bank bailout yesterday and duly welcomed George W. Bush to the club of socialist leaders, reports Reuters. Hailing "Comrade Bush" was high praise from the man who has variously referred to his American counterpart as the devil and a drunk, but Chavez...

US Will Buy Shares in American Banks

G7 agrees on 'aggressive action plan' after emergency finance meeting

(Newser) - Treasury chief Henry Paulson has announced plans to buy up shares in America's troubled banks, Reuters reports. The government will purchase equity in banks "as soon as possible," using some of the $700 billion approved by Congress to rescue the economy, Paulson said yesterday after a crisis meeting...

Iceland Shuts Stock Market, Nationalizes No. 1 Bank

Overexposed Nordic nation sinks deeper into financial crisis

(Newser) - Iceland shut down its stock exchange today due to "unusual market conditions" and will keep it closed until Monday, the AP reports. The move came just hours after the Icelandic government nationalized Kaupthing, the nation's largest bank and the third to come into public ownership. An IMF delegation...

How Bad Is Northern Rock?
How Bad Is Northern Rock?
OPINION
Feb 19, 2008 1:08 PM CST

How Bad Is Northern Rock?

Pundits examine the fallout of unavoidable nationalization

(Newser) - The subprime crisis has forced the British government to do what it dreaded: nationalize a bank. What's the fallout from the Northern Rock takeover?
  • Gordon Brown "put quite a good face" on an unpalatable decision, says Philip Stephens of the Financial Times. Nationalization hasn't hurt him much, but the
...

Move to Nationalize UK Bank Sparks Fury

Shareholders expected to battle public ownership

(Newser) - Furious shareholders concerned about the risk to their investments are blasting the British government's decision to nationalize ailing Northern Rock bank. The British Treasury is expected to face lengthy legal action from investors once the government formally announces details of the takeover today. Trading in bank shares is being suspended,...

UK Nationalizes Northern Rock
UK Nationalizes Northern Rock
Feb 17, 2008 12:52 PM CST

UK Nationalizes Northern Rock

Bank takeover marks desperate move for British ministers

(Newser) - British ministers plan to nationalize Northern Rock as part of a bold, desperate move to rescue the struggling bank, the BBC reports. Chancellor of the Exchequer Alistair Darling said two private bids to take over Northern Rock failed to offer “sufficient value for money to the taxpayer,” adding...

Nationalization May Loom for Northern Rock

Branson's Virgin bid for troubled bank needs improvement, UK gov't says

(Newser) - Troubled British mortgage lender Northern Rock’s share price plummeted 8% today as rumors of government nationalization grew after the Treasury panned rescue plans offered by Richard Branson's Virgin Group and a competing version from the bank’s management team, the BBC reports. Though shareholders reportedly prefer management's bid, the...

Snubbing the West, Bolivia Waxes Red

Country turns to Chávez, socialism, in lieu of IMF cash

(Newser) - Bolivia’s populist president is traveling his country handing out aid—straight from his anti-American neighbor Hugo Chávez. The Washington Post reports that Evo Morales has been taking more than a cue from Chávez, using the Venezuelan leader's cash to fund social welfare programs and build clinics and...

Exxon, Conoco Pull Out of Venezuela
Exxon, Conoco
Pull Out
of Venezuela
Jun 26, 2007 8:04 AM CDT

Exxon, Conoco Pull Out of Venezuela

Firms reject Chavez demand for 60% stake in future projects

(Newser) - ExxonMobil and ConocoPhillips are bolting from lucrative operations in Venezuela in the wake of Hugo Chavez's demand that his state-run oil company receive at least a 60% share in projects. Talks over compensation fell apart hours before today's deadline to determine the future of four projects that produce as much...

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