Vulture investor Wilbur Ross believes government-controlled banks would have an unfair advantage over their non-government-controlled competitors... "why would a big depositor deposit his money anywhere but a government bank?"

Government control would also get in the way of banks doing business with foreign governments. Ross raises the point, "How does Citibank do a lot of business with foreign governments if it's controlled by the U.S. government? And do it free of political interest? Does it really make any sense to potentially have the U.S. state department running Citibank? I don't think that's the right thing to do from a public policy point of view."

Read full article...