The only alternative available to save Citigroup (Citibank) appears to be for the government to nationalize it. The Wall Street Journal article makes it sound like that's definitely going to happen. Now, what to do with the Bank of America, which is also on life support?

http://online.wsj.com/article/SB1235...ml?mod=testMod

The nationalizing of these banks makes saving the auto industry look like penny ante.

This leaves me with a minor question -- how does a private JPMorgan Chase (or any other bank not nationalized) compete with banks owned by the government anyway?