The White House said last week that it strongly believed in a privately held bank system, after rumors that the U.S. government could nationalize banks caused shares in Bank of America and Citigroup plummet. “Let me reassure as best I can on banks,” White House press secretary Robert Gibbs told a briefing with reporters.
“This administration continues to strongly believe that a privately held banking system is the correct way to go, ensuring they are regulated sufficiently by this government.”That’s been our belief for quite some time and we continue to have that.”
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