Weren't we told by Congress and the President that the $700 billion bailout was needed or banks would go under?
Why then are banks who don't need the money being forced to take billions of taxpayer dollars?
The latest two are NC locals BB&T and SunTrust.
Both BB&T and SunTrust said they were well-capitalized without the
federal infusion of cash and that they might use the money for
acquisitions.
federal infusion of cash and that they might use the money for
acquisitions.
Acquisitions? That doesn't sound like they are worried about the crippling effects of bad loans.
BB&T and SunTrust ran their businesses well and are now being forced to take government "reinvestment."
Leave a Comment