There has been much talk about the nationalization of America’s banks in the last 3 months, since Obama has become president.  The idea of creating a bad bank, of forcing banks to take larger injections of taxpayer money, and of limiting executive pay have all been played out on the pages of our best newspapers. [...]

East Coast Economics posted an article, The Fed & Bank Borrowing.  The point of the article is to illustrate the problems in the following 2 graphs.
In this first graph, we can see the money borrowed by US banks from the Fed through December 2007:

Now take a look at the same graph, updated for 2008 (note [...]

What can you do?  If your central government runs the nations politics and economics into the ground?Â
No, not the US (yet), Iceland.  Icelanders protested and stormed the central bank over economic tensions. Â
“Iceland has seen its banks and currency collapse in just a few weeks while prices and unemployment soar — leaving a country regarded [...]

Alan Kohler, of Business Spectator, wrote an article A tsunami of hope or terror?.  The article covers what will happen if more companies go under.
The Breakdown:

A synthetic CDO cataclysm could save the global banking system (with horrible consequences)
Investors and funds worldwide will be collateral damage
Banks paid external entities (usually Cayman companies, or charities) to back [...]

A post on the Get Smart Blog, by Bridget Ayers — When Banks Stop Lending Money — does a great job explaining what is going on with respect to frozen credit, interest rates, and global implications of everything.

The following are banks we are watching over the next 24 to 48 hours. The price are as of 9/29/08 3:48pm EST
National City Corporation Â
Price 1.48 Change-2.23 (-60.11%)  |  52Wk High/Low:  27.21  /  1.25
Wachovia Corporation
Price: 1.65
Change: -8.35 (-83.50%)
Sovereign Bancorp, Inc
Price: 2.36
Change: -6.01 (-71.80%)   |      52Wk High/Low:  999.00  /  2.34
Fifth Third Bancorp  Â
Price: 9.97
Change: -6.19 (-38.30%)     |       52Wk [...]