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ShoreBank Raising Sufficient Capital to Avoid FDIC Takeover

Tuesday, May 18, 2010 - 1:23 PMShoreBank
From the Wall Street Journal
Leading Wall Street banks have led an effort to rescue ShoreBank in recent days. The participants include Goldman Sachs Group Inc., as well as Citigroup Inc., J.P. Morgan Chase & Co., Bank of America Corp., and Morgan Stanley.
It appears the big banks want to improve their image by helping ShoreBank which according to ShoreBank's profile used to offer a competitive online savings account, but the rate was slashed in January 2010, and it's no longer competitive.
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Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
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