Washington talks down nationalisation

Some of the main players in the United States's plans to fix the financial sector have been playing down the likelihood of nationalisation in recent days.

Tim Geithner, the US Treasury secretary; Ben Bernanke, the chairman of the Federal Reserve; and Sheila Bair, the chairman of the Federal Deposit Insurance Corporation have looked to quell market fears that Washington is about to take some of the country's biggest lenders, notably Citi and Bank of America, into state control.

Geithner told PB