Think They’ll Change Their Websites From dot-com to dot-gov?

Just a couple of days ago in a post titled Financial Weapons of Mass Destruction: A Perspective I commented that JP Morgan, Bank of America and Citigroup have been effectively nationalized since the 1990’s, given the size of the systemic risks their off-balance sheet derivatives transactions posed to the broader economy and the knowledge and acceptance of the risks by two Federal Reserve Chairmen.  Today the three banks getting the largest capital injections are in fact these three horsemen, plus the who’s who of who’s left.  From Bloomberg:

The Treasury plans to spend $25 billion each for stakes in Citigroup and JPMorgan, people said. Another $25 billion will be divided between Bank of America and Merrill, which agreed last month to be acquired by Bank of America. Goldman and Morgan Stanley will each get $10 billion, while State Street and Bank of New York will get injections of about $3 billion each, people said.

Big surprise, but imagine if they really did change their domains:

U.S. Treasury Said to Invest in Nine Major U.S. Banks
Robert Schmidt, Peter Cook, Bloomberg, October 13, 2008


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