Bank Stocks Getting Creamed

Update: It’s a bloodbath. Citi (C) is down about 15%, barely above $2. Wells (WFC) is off 10%. Bank of America (BAC) down 18%

Original post: Every day is starting to feel like one day closer to nationalization. Even on the up days, nobody wants to touch Citigroup (C) and Bank of America (BAC). Both are getting whacked in overseas trading, which was overall quite ugly.

Geithner can’t rull out that toxic asset purchase program fast enough.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at