Timothy Sumer

The British government said Monday it would provide up to 37 billion pounds (US$63 billion) in government money to boost the balance sheets of three of Britain's largest banks. (Oct. 13)... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The British government has been bailing out banks since the 2008 financial crisis. The reason for this is that the banks were in trouble due to their own actions, and the government had to step in to prevent a collapse of the financial system. Banks are a crucial part of the economy. They provide loans to individuals and businesses, keep money safe, and facilitate transactions. However, banks can make mistakes, and in some cases, they can be reckless in their lending practices. The financial crisis of 2008 was caused in part by the banks' risky lending practices. They lent money to ...

In his first State of the Union address, President Barack Obama says the bank bailout was unpopular but necessary to stop the meltdown of the nation's financial system. (Jan. 27)... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing Former President Barack Obama recently spoke on his fondly remembered time in the White House and admitted that the Bank Bailout was an incredibly unpopular move. As the country was plunged into a financial crisis in 2009, the Obama administration was faced with the daunting task of stabilizing the floundering economy. One of the measures taken was the Bank Bailout, a controversial decision that Obama himself admits drew a great deal of public ire. In an interview with CNN's Anderson Cooper, Obama stated, "We all hated the Bank Bailout, but we had to do it." He went on to explain t...

After receiving $7 billion in aid from U.S. taxpayers, the nation's largest banks say they either can't track exactly how they're spending the money or they simply refuse to discuss it. (Dec. 22)... ( read more ) LEARN MORE ABOUT: Bank Failures REVEALED: Best Investment During Inflation HOW TO INVEST IN GOLD: Gold IRA Investing HOW TO INVEST IN SILVER: Silver IRA Investing The financial crisis of 2008 caused many banks to be on the brink of collapse. Governments around the world decided to bail them out with billions of dollars, but where did the money go? Many people are still asking that question. Initially, the banks were hesitant to reveal how they used the bailout money, citing privacy and competitive concerns. However, eventually, the banks had to provide some information about their expenditure. One significant use of the bailout money was to pay off debts. Many banks had large loans from other financial institutions that they need...