Anyone know which 9 banks are in the bailout and which are not?
I know 5 of them that are now "owned" by the feds a complete list? the total in the news is 9. Which if any American banks are still independent?
- 1 decade agoFavorite Answer
The lucky 9: Citigroup, JPMorgan Chase, Bank of America, Goldman Sachs, Morgan Stanley, Wells Fargo, Bank of New York Mellon, State Street and Merrill Lynch, soon to be taken over by Bank of America.
All the smaller banks, thrifts, and savings and loans like Sovereign Bank or Nat City are not part of the deal but are expected to reap the benefits as the credit market unfreezes.
These nine banks remain "independent" as the government doesn't have a voting share in these banks. In addition, the terms of the deal are very nice for the banks...especially considering most of these banks were part of the problem in the first place. Oh well. The rich get richer and the poor answer questions on the web.
Good luck to you.