I would be remiss if I didn't post this:
http://www.msnbc.msn.com/id/34350133/ns/business-us_business
Bank of America has repaid their loans they received through the TARP program. Citi Bank claims to be repaying this week as well.
I'll admit I wondered if any of the money would be returned/repaid so it's good news to me that some are repaying. I don't have the numbers, but I'd be interested in knowing what percentage of monies loaned has been repaid now.
I also think that this repayment is a sign of economic recovery. It's good to know that these banks now have sufficient funds to repay, suggesting that they are doing much better now. Perhaps this is the result of a turnaround in the economy, or maybe they are just now learning to cut back on their spending. Either way, the fact that they don't need government help gives me good feelings towards the overall outlook of the US economy.
10 years ago
1 comment:
Dave and I were discussing this with some friends the other night. It's great that these companies are paying the government back, but how much of this money is going back to China that the government borrowed from them in the first place to 'bail-out' these companies? Or how much are they keeping to have 'cash on hand'?
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