Famous™ US government injects $250 billion into banking industry

October 15, 2008 in Business, Finance, News, Politics by Admin

Now that President Bush and Henry Paulson have been given the $700 billion that they have requested, they will use $250 billion to inject into banks. Their hopes are that this will work similar to a vaccine and prevent the ongoing spread of banking and financial failures that have occurred.

The breakdown of the initial $250 billion will be distributed to 9 banks such as:

-Citigroup
-Goldman Sachs
-Morgan Stanley
-Wells Fargo, etc…

Then the rest of the injection will be submitted

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