Economics, Finance & Investments (RETIRED BLOG)

A forum for discussing financial economics, structured finance and investment management

Monday, October 13, 2008

Governments buying stock directly in banks

The administration will use perhaps as much as $250bn US of the $700bn US bailout program recently passed by Congress to purchase stock in U.S. banks, providing the banks with desperately needed capital, the official said.

The UK government unveiled an injection of £37bn ($63bn) into Britain's biggest high street banks.

German Chancellor Angela Merkel outlined a rescue package up to 80 billion euros ($109bn) to be used to recapitalize the German banking sector.

I'm amazed that anybody (other than socialists) thinks this is a good idea.
ALD at 8:58 PM

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ALD
I'm a veteran of two careers - high school math and physics teacher, retirement consulting actuary - who is now enjoying the pleasure of staying at home for my daughter. (My avatar is in honor of Will Durant, whom I consider the last true sage.)
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