The Treasury Department is expected to announce plans today to partially nationalize the US banking system by investing $250 billion in the country’s financial institutions. As part of the plan, nine of the largest US banks will be forced to accept partial government ownership. The banks include Citigroup, Bank of America, Wells Fargo, Goldman Sachs and JPMorgan Chase. The government is also planning to provide insurance on all deposits in non-interest-bearing accounts and insure certain types of bank debt. Britain and other European governments have already launched similar efforts to nationalize their banks.