Treasury department announced earlier today that it will buy preferred stock in nine of the nation’s largest banks. Bank of America, Citi, JP Morgan Chase, Goldman Sachs, Morgan Stanley, State Street and Merrill Lynch will all receive an infusion of capital anywhere from $2 billion to $25 billion. Hopefully, this will bring the confidence back in our financial system and “un-freeze” the credit markets. The second lesson: We live in a connected world. Not just Wall Street and Main Street, it’s impossible — to decouple these institutions.”]
Source: https://www.cuinfosecurity.com/blogs/rescue-plan-bringing-confidence-back-to-credit-markets-p-93