Among the latest banks to receive approval for government funds are:
Capital One - $3.55 billion
SunTrust Banks - $3.5 billion
Regions Financial Corp. - $3.5 billion
Fifth Third Bancorp - $3.4 billion
BB&T Corp. - $3.1 billion
KeyCorp - $2.5 billion
Comerica Inc. - $2.25 billion
Northern Trust Corp. - $1.5 billion
Huntington Bancshares Inc. - $1.4 billion
First Horizon National Corp. - $866 million
City National Corp. - $395 million
Valley National Bancorp - $330 million
UCBH Holdings Inc. - $298 million
Washington Federal Inc. - $200 million
First Niagara Financial Group Inc. - $186 million
Some of the banks are not failing, just propping up capital reserves. A couple intend to use the funds to purchase "ailing banks". A couple are a bit shaky. If your bank is on this list, it's actually a good thing. The Feds have declined a few banks borrowing needs and those will most likely be on a short list which is not a good thing.
Lending money to banks to buy out smaller troubled banks may be a good idea. Saves the FDIC reserves and earns a little bit of interest for the Feds. That point ought to be disclosed though but any negative news on failing banks regardless is always top secret.
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With all of this cash infusion, is it making cash itself "valueless"??? How much is being printed in order to do all thiis lending/buyout? What's backing same? What about inflation?