Tuesday, June 9, 2009

Hey! We are getting money back... I think?

from The Wall Street Journal

The Treasury Department said it will allow 10 of the nation's largest banks to repay $68 billion in government bailout money. The Treasury says the banks will be allowed to repay the money they received from the $700 billion Troubled Asset Relief Program funds. The banks have been eager to get out of the TARP program to escape government restrictions such as caps on executive compensation.

The Treasury Department did not name the banks involved, but Morgan Stanley /Chase said it is repaying $10 billion in TARP capital.

[my Chase bank charges a fee for everything not in the service contract. They are profitable alright... they see to that!]

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