photo credit: Mike Licht, NotionsCapital.com
We have been seeing this trend of the government dishing out all kinds of bailout money to large corporations and now to large and small banks all over the country. We are about to see yet another bailout being handed to smaller banks in the near future.
While treasury secretary Timothy F. GeithnerÂ said that most of the changing and financial shifting is already behind us, there is still some damage control that needs to be done. However, there has been a sugnificant shift in the financial crisis that is proving to look more positive everyday according to Geithner.
The new bailout or “program” already has more than 300 small banks participating in it. This new program will allow more capital assistance to smaller banks as well as an increased amount that they will be able to borrow from the program to get back on their feet.
“We need a much simpler financial oversight structure,” he said. “It’s not going to be comfortable for everybody but it’s important to do.”
What are your thoughts on these programs for the financial institutions?