Down...

Markets at close :
S.&P. 500 closed at 764.90 (8.24, 1.07% down)
Dow (DJIA) closed at 7,270.89 (80.05, 1.09% down)
Nasdaq closed at 1,425.43 (16.40, 1.14% down)

Apparently the government will not seek nationalization of major banks but could end up owning larger stakes instead. The chairman of Federal Reserve Ben S. Bernanke defined nationalization as “when the government seizes the bank, zeros out the shareholders and begins to manage and run the bank" then added that "we don’t plan anything like that.” Oh well...