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From the Finance channel »
Mortgage Industry Nationalized
http://www.openleft.com/ showDiary.do?diaryId=8003
I'm not versed enough in economics to know if this technically qualifies as the nationalization of a major financial sector, but it sure sounds like it: The U.S. government plans to put troubled mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported on Friday.(...) The firms would be placed in a legal state known as conservatorship, the Post said, citing sources familiar with the conversations. The value of the company's common stock would be diluted but not wiped out while the holdings of other securities, including company debt and preferred shares, would be protected by the government, the Post said.
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