Bailout plan can reassure residents
Understanding the depth of the situation is difficult because the workings of the financial markets and how they trickle into our own lives are obscure. Secretary of the Treasury Henry Paulson and Fed chairman Ben Bernanke painted a dire picture to Congress. Congress, too, picked up a kind of rhetoric that was sure to scare onlookers.
Our local bankers have tried to make it understood that deposits are safe and Louisiana’s banks are some of the strongest around. That’s reassuring.