News / Utah / 

Bennett: Banks need private sources of capital

Bennett: Banks need private sources of capital



This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

SALT LAKE CITY (AP) -- Utah Sen. Bob Bennett has sent a letter to financial banking regulators encouraging their agencies to remove obstacles that could prevent willing private sources of capital from investing in the banking system.

Bennett says sources of capital such as private equity investors could reduce the need for future bank bailout funds, protect taxpayer investments and help the financial system recover.

Bennett sent his letter Thursday.

The Republican says he would oppose using additional bank bailout funds when there is private capital that could be used to help stabilize the financial markets and provide money for new lending.

------

(Copyright 2009 by The Associated Press. All Rights Reserved.)

SIGN UP FOR THE KSL.COM NEWSLETTER

Catch up on the top news and features from KSL.com, sent weekly.
By subscribing, you acknowledge and agree to KSL.com's Terms of Use and Privacy Policy.

KSL Weather Forecast