When a company is nationalized what typically happens to the shareholders? Are they wiped, do they get paid out, or does some of their ownership carry over to the new entity (rights to a special dividend or something)?
Note that long term shareholders have already been pretty much wiped out. CS was worth almost $300B before the GFC, and down 70x to around $8B Friday. Apparently UBS was uncomfortable offering more than $1B for it today, so already down a further 8x since then.