Wednesday, October 15, 2008
Bush announces U.S. will invest $250 billions into banks.
In an attempt to unfreeze the credit market, president Bush made an announcement yesterday that the U.S. government is investing $250 billions into some of the country largest banks in exchange for limited shares for taxpayers. According to CNNMonney.com, the historic measure is designed to " give banks the confidence to make loans to one another and their customers and help provide the economy the source of funds it needs to operate." But to qualify, those banks must agree to put limits on executive pay.
If I am made shareholder of these banks, does it means that my Christmas shoping bill is on Uncle Sam?
Original story CNNMoney.com
If I am made shareholder of these banks, does it means that my Christmas shoping bill is on Uncle Sam?
Original story CNNMoney.com
Labels: U.S. to buy $250 billion worth of shares in biggest banks.
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