re: #98 smokefire

Chris Dodd, scaring the SH*T out of Banking Community, with this comment, yesterday

[Link: www.courant.com…]

Stocks Bounce Sharply Higher On White House Comments About Banks - U.S. Commentary

(RTTNews) - Stocks have shown a substantial move to the upside in recent trading on Friday, with the major averages moving well off their worst levels of the day. The rebound was partly due to comments from the White House easing concerns about the outlook for the financial sector.

Asked about speculation that the Obama administration may seek to nationalize Citigroup (C) and Bank of America (BAC), White House press secretary Robert Gibbs noted that the president strongly believes that “a privately held banking system is the correct way to go.”

Banking stocks have shown an astonishing turnaround following Gibbs’ comments as well as reports that Treasury Secretary Tim Geithner will provide some details on the administration’s financial rescue plan next week. …