albertfinanceloans

http://www.usatoday.com/money/industries/banking/2009-02-05-banks-credit-economic-recovery_N.htm


History is going to be made! The Fed is on its way to mount the largest bank rescue till date. The government has high hopes that if it clears troubled assets and gets the credit flowing once more, by setting up an ‘aggregator bank’ our economy will move back on track.

The situation is indeed grim. The banks that were considered ‘too big to collapse’ have already declared bankruptcy.   Samuel Hayes, a professor of finance at Harvard Business School says that "Banks provide the grease which lubricates the wheels of commerce; without that, the economy is frozen."

But, whether their new approach to tackle the situation will work or not, remains to be seen. Let’s just hope, that the government knows what they are doing!