The Financial Bailout Fiasco

Regions Bank A new group of smaller, regional banks have begun announcing their participation in the federal government's $700 billion rescue program.

Regions Financial Corp., based in Birmingham, Ala., said in a press release that it had been approved for a $3.5 billion preferred stock investment by the Treasury Department. First Horizon National Corp., headquartered in Memphis, Tenn., will get $866 million.

. in Beverly Hills, Calif., is set to receive $395 million. The announcements come amid reports that the Treasury Department is set to disclose investments in 20 or so additional financial institutions.

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