Monday, October 13, 2008

U.S. to Buy Stakes in ...

by Calculated Risk on 10/13/2008 07:42:00 PM

From the WSJ:

[T]he government is set to buy preferred equity stakes in nine top financial institutions ... It's unclear how much would be invested in each institution. The move is designed to remove any stigma that might come with a government investment.

Banks receiving government funds include Goldman Sachs Group Inc., Morgan Stanley, J.P. Morgan Chase & Co., Bank of America Corp., Citigroup Inc., Wells Fargo & Co. and Bank of New York Mellon.

Not all of the banks involved are happy with the move, but agreed under pressure from the government.
I only count seven.