The hits just keep on coming

U.S. banks expected to use rescue money for all but loans
U.S. banks will probably use their money from the government to buy weaker competitors, avoid painful cost-cutting measures or simply as a cushion to help them through the downturn, experts said. Some of the money may eventually get into the economy through lending, but that is not likely before the end of the next quarter. Even with capital from the government, analysts said, the American banking industry still needs to raise about $275 billion to cope with anticipated losses.
[International Herald Tribune by way of the CFA Newsletter]