There seems to be a pretty clear realization now that the hammering the big bank stocks are taking over the last few days is not simply a matter of their battered economic condition but more immediately because of the growing likelihood of nationalization. But buried down in an article in today's Journal is this.

At a senior leadership meeting yesterday, Bank of America CEO Ken Lewis told bank leaders (according to a source in the room) that government officials have assured him that nationalization "isn't on the table."

He said "he has [also] urged the government to say this publicly."

I'll bet he has.

Now, under the present circumstances, I would not take anything Mr. Lewis says at face value. But the comment can speak for itself.