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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Investment, Market

Sixteen U.S. banks sign up for government funds

Posted on 28 October 2008

From Guardian.co.uk: Sixteen U.S. banks including BB&T Corp , Capital One Financial Corp and SunTrust Banks Inc have accepted more than $33 billion of U.S. government cash, as speculation turned to which lenders might not qualify for help.

The infusions are part of the second phase of a $250 billion recapitalization program launched this month by U.S. Treasury Secretary Henry Paulson. Governments worldwide are trying to prop up banks whose capital has been hit by the credit crisis as part of efforts to stave off a potentially deep global economic recession….. Full Article: Source


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