Economic woes deter rich from increasing giving

Bill Gates and Warren Buffett are urging U.S. billionaires to give away their money, but economic uncertainty is deterring rich Americans from increasing their giving, say bankers to the very wealthy.

Chief executives of Wells Fargo Private Bank, Credit Suisse Private Bank, Bessemer Trust, Silvercrest Asset Management and Bank of America's U.S. Trust told the Reuters Global Private Banking Summit that some rich people were reassessing their giving as the country recovers from its worst recession in decades.