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Breaking news of the morning -- on the Wall Street Journal are reporting that Citigroup.
Now in talks -- federal officials those talks could result.
-- government taking as much as a 40% stake in cities common shares.
At bank stocks were hit hard on Friday speculation guru on the rumor that -- -- -- our nation's banks may soon become a reality.
Fox -- senior Washington correspondent Peter Barnes has more details on the morning -- Well good morning Alexis over the weekend and administration official.
Telling me that the government has no imminent plans to nationalize troubled banks.
This official reinforcing statements by white house press secretary Robert Gibbs on Friday -- financial stocks.
Particularly Citigroup and Bank of America -- -- were roiled by rumors of pending bank nationalization.
This administration continues to strongly believe.
That the privately.
Held banking system.
Is the correct way to go.
Insuring that there they are regulated.
By this government.
Now the official saying that the Treasury Department and Federal Reserve are expected to announce details this week of new capital assistance measures.
Designed to avoid nationalizing banks including.
That likely will require some bigger firms to temporarily raise more capital -- going to get the program up and running this officials said.
These terms are designed to these programs rather are designed to avoid nationalization.
The official said the administration believes that in the current economic environment and after many banks have received billions of dollars in investments from the government.
They are well capitalized but the official said that the new capital measures will provide certain firms.
With a level of capital buffer and provide regulators with an insurance policy for firms and the financial systems in the event of a further deterioration.
Of the economy.
Alexis thank you all right -- thing.
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