Washington Fiddles while Banks Burn

Bank of America and Citigroup seem to be running neck and neck in the race to be first to be nationalized by the federal government. Bank of America blasted through the $5 level yesterday - important because many funds are restricted from owning stocks less than $5, and is approaching $4 - a 25-year low - today as investors and traders speculate about nationalization. Citibank was quoted at $3.43 at 11:24 am.