Taxpayers are now buying drug companies.

Discussion in 'Wall St. News' started by operator, Jan 26, 2009.

  1. "The acquisition will be financed by Bank of America Corp., Barclays Plc, Citigroup Inc., Goldman Sachs Group Inc., and JPMorgan Chase & Co., Pfizer said. Morgan Stanley and Evercore Partners Inc. are counseling Wyeth. Each bank will put in $4.5 billion."

    I'm not sure what the heck is going on here, but things are getting a little out of control. Do the above banks really have 4.5B each to kick in for this not so necessary deal??? I thought these clowns were suppose to lend to consumers???
  2. I think they wanted them to lend to businesses just as much as consumers, since most of the articles I've read detail businesses complaining about not having enough credit currently.

    Unfortunately, I don't think they anticipated job losses from loaning to these businesses :(

    I don't know where the job losses end. It's scary.