Whoops: Rally Dead, Citi Below $3

That was a quick rally. After jumping on details of the housing plan, stocks are in the red again, and Citi (C) is now below $3 a share. All the banks are down again, as chatter about nationalization heats up. Even if this hadn’t been what Obama intended, we think all this talk of nationalization will basically make it happen, as private investors lose any appetite to put money in these firms.

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