The Government is to announce Tuesday that as many as 10 additional large banks are planning to pay back the monies borrowed under the Troubled Asset Relief Program (TARP).
These large banks (which are now significantly healthier than this time last year) will repay another $50B in loans. That's in addition to some smaller banks that have already paid the US taxpayers back and on top of those healthy regional banks who said "No Thanks!" to TARP in the first place.
Of the over 9000 banks chartered in the US, only one has failed in June.
Tuesday, June 9, 2009
More Large Banks Pay Back Taxpayers
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GNE,
ReplyDeleteAre you concerned about the push for new stress tests? Do you think they will undermine the growing confidence in our banks? I suppose you can make the test so hard that no bank passes.
No, I am not concerned. I have observed a Fed and Treasury that as done a fine job of building new confidence while appropriately assisting the big banks.
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