Quote:
Originally Posted by jmcb420
WG, the banks took that bailout money and started buying up smaller banks....  None of that money was used for anything that would help anyone but them.
EDIT:
Hell, I see I totally either missed your point or read that wrong. Either way, whoops....... |
A FYI, not all banks took the money that was offered. We have two local banks here and when one of them took some bailout money in the form of a Government loan it made the local news. Of course they made a story of how the bailout money was coming to our area and how this bank got some. Then they also interviewed the other bank with whom I bank with myself and they said they had declined it. They said that they had ran their bank as they felt the stockholders deserved, which has left them doing very well even in todays conditions and thus they did not need the Governments money. For what it is worth, the bank that declined it did not get as much news coverage.