NBT exec weighs in on Wall Street woes

NORWICH – Chenango County’s most prominent bank and leading corporate citizen supports the federal government’s proposed bailout of Wall Street’s investment banking industry.

Prior to the United States Senate’s approval last evening of the now $800 billion plus infusion, NBT Bank, N.A. President and Chief Operating Officer Martin A. Dietrich said he was in favor of it. Some type of package is necessary, he said, in order to keep the nation’s economy from slipping into a deep recession.

“If not remedied, it will spill over Main Street, and then we are looking at a very deep and prolonged weakness in the economy,” Dietrich said. “It’s absolutely critical. No one wants a bailout, but it’s what the credit markets need right now.”

There's more to this story! You're only seeing 25% of the story. Subscribe now to get immediate access to the rest of the story as well as our whole online offering.

Today's Other Stories

© 2018 Snyder Communications/The Evening Sun
29 Lackawanna Avenue, Norwich, NY 13815 - (607) 334-3276
Create an Account Forgot Password Help
pennysaver logo greatgetaways logo
We're on Facebook