Bank Bailout Money Being Used for Mergers

Saturday, November 22, 2008 23:01
Posted in category Economy, Finance, Money

With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones. At the center of these mergers is the Treasury Department, led by Goldman Sachs alums Henry Paulson and Neel Kashkari. While neglecting struggling homeowners they have created major incentives for widespread bank consolidation, which could lead to a host of new problems. And, as members of Congress recently noted, Treasury officials seem to be making the rules up as they go.

Related posts:

  1. Who got AIG’s bailout money?
  2. Bank Stress Test…NOW?
  3. Citigroup to Invest $10 Billion of Taxpayer Money in Spain!
  4. Mind Boggling – The True Cost of The Bailout
  5. “The Bailout Surge” by Dr. Ron Paul

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