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November 3, 2008

All Business: What's wrong with banks buying banks?

  • Healthy banks buying weaker ones ultimately could save taxpayers even larger hits down the road.
    AP Business Writer

    NEW YORK — Critics are outraged that the nation's banks are using billions of dollars of federal bailout money to buy other banks instead of boosting their lending. But is that really such a bad thing?

    The official line from the White House is that the banks should use the $250 billion to make loans. If lending unfreezes, they say, that would help to stabilize the financial system.

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