Banks Profits From U.S. Guarantee.

Authors :: Gongloff, Mark
Source :: Wall Street Journal - Eastern Edition. 7/27/2009, Vol. 254 Issue 22, pC1-C5. 2p.
Publication Year :: 2009
Abstract: The article discusses benefits enjoyed by financial companies that have participated in a U.S. Federal Deposit Insurance Corp. program that guarantees new debt. The publication estimates that firms such as General Electric Co. and Citigroup Inc. will save around $24 billion in borrowing costs. The program has allowed Goldman Sachs Group Inc. to save over $200 million per quarter in financing costs.