The Big Bank Bailout Payback Bamboozle | Mother Jones
Wall Street players reimburse Treasury with money we lent them—and Geithner celebrates?
Last week was a milestone for US treasury secretary Tim Geithner. He finally got to play the hero. The morning of June 9, Treasury notified 10 financial institutions, including JPMorgan Chase, Goldman Sachs, Morgan Stanley, US Bancorp, and Capital One Financial, that they were "eligible to complete the repayment process" for the capital they received under the Troubled Assets Relief Program (TARP). In other words, they would be allowed to pay back $68.3 ... Full Story »
Posted by Doug Greer
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