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Obama Nationalizing US Bank Fears Investors

Wall Street is getting hammered today with bank stocks leading the way south. Industry giants like Bank America ( BA ) and Citi Bank ( C ) are trading like “Penny Stock’s”. Fears over President Obama’s plans for both the Banking Industry and the Real Estate Market are whewing on investors hopes for any kind of recovery. Treasury Secretary Tim Geithner needs to take some action to claim the market. 

Market levels have broken levels set back in 1997 with the S&P Index approaching a dangerous level, set back in November. Rumors that the Obama Administration may loosen “Mark-To-Market” accounting rules over the weekend, may cause a major turnaround on Monday, but no one seems to be betting on this President nor his cabinet at the moment.

Ken Lewis, President of Bank Of America stated again this afternoon that, “Nationalization” of Bank of America makes absolutely “No Sense” !!!! This is echoed by the price-action on Wall Street today, screaming to President Obama, this would be a mistake.

All eyes will be on the Obama Administration over the weekend.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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Obama Administration Will Unveil Bank Rescue Plan On Tuesday

All eyes will be on Treasury Secretary Tim Geithner and the Obama Administration on Tuesday. At 2:30PM EST the Treasury Secretary will unveil the new “Bank Rescue Plan”, a proposal that is geared to save the banking industry from further collapse. The plan was scheduled to be release today, but was delayed until Tuesday, as the legislature ”Failed”  to pass the “Obama Stimulous Plan” over the weekend.

MARK SANDS
1st National Processing
http://www.usa-merchantaccount.com
1-866 828-8683

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