US gov’t moves to dispel bank nationalization rumors (AFP)

The US Treasury seal is seen at the Treasury Building in Washington, DC. The US Treasury Department Friday rejected market rumors of impending nationalization of troubled banks, reiterating that its policy is aimed at preserving a private financial system.(AFP/File/Brendan Smialowski)AFP – President Barack Obama’s administration Friday moved to quash rumors that troubled US banks will be nationalized as the shares of financial institutions took another beating in the market.

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