Oct 15 2008 16 mins 1
Insights on the Federal Rescue Plan - an Interview with Guillermo Kopp of TowerGroup
Tuesday's news was mainly about Wall Street, with the U.S. government pledging to invest up to $125 billion in nine of the nation's largest banks.
But Main Street banking institutions and their customers will be the ultimate beneficiaries of this financial boost, says one industry analyst.
"It's all about restoring confidence in the banking system," says Guillermo Kopp, Executive Director and Global Research Fellow at TowerGroup, the Boston-based financial services research and advisory firm. "This is an interdependent system, and it's important to ensure that banks don't hurt, because they sustain the economy."
In an exclusive interview, Kopp discusses what this investment truly means to the banking industry, sharing insight on:
- Ways financial services organizations of all sizes will benefit from government investment;
- How banking institutions can step up and reinforce customer confidence;
- Immediate business priorities for these institutions;
- Outsourcing trends in the near term.
