Banks Bailout: What Could It Mean To You and Your Money
It’s hot topic even to ordinary people of who gets what from the bailout funds. With so many concerns about the state of the banking industry, the results are now in. It is now known that Bank of America, Citigroup, J.P. Morgan Chase, and Wells Fargo will get the largest chunk of the bailout money.
The list is quite long, but some banks who have been approved are still undecided of whether to accept or not. It’s cheap capital for a capital starved industry, but banks are questioning themselves as to why they should take it.
Some banks intend to just hold on to the money. For other banks, it adds to its already substantial cushion against the adverse effects of the weakening economy.
So now that the fnancial support are starting to roll in, what does it mean to you and your money?
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