U.S. Forces Nine Major Banks To Accept Partial Nationalization

The U.S. government is dramatically escalating its response to the financial crisis by planning to invest $250 billion in the country's banks, forcing nine of the largest to accept a Treasury stake in what amounts to a partial nationalization.

Full-text article by David Cho, Neil Irwin et al. is available via the Washington Post, 10.14.08.

See related graphic: Big Banks Involved in the $250 Billion Federal Intervention.