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No Nationalization for Dexia: Asset Manager

Tuesday, 11 Oct 2011 | 2:00 AM ET

"I think this headline that Dexia has been nationalized, or there is a bailout, is absolutely wrong. What we know is, the Belgians are going to take responsibility for the Belgian citizens, the French for the French citizens; and this leaves 180 billion in US municipal lending, and another 180 billion in European municipal lending, for which no one is taking any responsibility," Phillippa Malmgren, president and founder of Principalis Asset Management, told CNBC.