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Banks Line Up to Throw Off TARP Yoke

Business  (tags: Big Banks, TARP, finance, economy, business, money, news, politics )

- 3292 days ago -
JPMorgan Chase & Co and several other banks eager to escape the restrictions and stigma linked to government bailout funds may get the chance to do so in the next few week

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Carol W (119)
Wednesday May 20, 2009, 12:12 pm
wow, It is as almost no one really needed the funds to begin with:

Earlier on Tuesday, JPMorgan Chief Executive James Dimon told shareholders he expects regulators will let a few strong banks repay TARP funds within weeks.

Dimon made it clear that he was eager to escape strict regulations on compensation and other areas for TARP participants. In particular, he called restrictions under the program on banks hiring foreign-born workers "a complete and utter disgrace."

Similar concerns have been voiced by other TARP recipients Goldman Sachs Group Inc, and Morgan Stanley, which like JPMorgan recently submitted applications seeking permission to repay TARP funds, people familiar with the situation told Reuters.

Mark G (36)
Wednesday May 20, 2009, 6:20 pm
Of course they want to throw the government yoke as soon as they can. The government couldn't run a neighborhood cook-out much less the banking industry.

Locan Sleeping-Squirrel (209)
Thursday May 21, 2009, 10:33 am
Unfortunately, the banksters can't either.

Mary Donnelly (47)
Friday May 22, 2009, 11:28 am
The banks need to reform themselves and the way they lend before they are let loose again, otherwise it may not be long before they recommence lending money to customers who can't repay it. (That is something financiers have done throughout history, if they thought that they could get away with it. Even Emperor Tiberius had trouble with them, shortly after Christ died.)
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