BUSINESS

Chris Dodd: Nationalization "May Happen"

03/23/2009 05:12 am ET | Updated May 25, 2011

Feb. 20 (Bloomberg) -- Senate Banking Committee Chairman Christopher Dodd said it may be necessary to nationalize some banks for a short time as Citigroup Inc. and Bank of America Corp. tumbled today on concern the U.S. may take over both banks.

"I don't welcome that at all, but I could see how it's possible it may happen," Dodd said in an interview on Bloomberg Television's "Political Capital with Al Hunt" to be broadcast later today. "I'm concerned that we may end up having to do that, at least for a short time."

Read more on Bloomberg

Suggest a correction