Posted on 09/15/2009 1:02:41 PM PDT by frithguild
WASHINGTON/NEW YORK (Reuters) - Some of the largest U.S. banks will remain caught in the government's financial bailout program for months, as officials do not expect to grant the next wave of exit approvals until near the end of the year, according to a source familiar with the matter.
Banks such as Citigroup (NYSE:C - News) and Bank of America Corp (NYSE:BAC - News) have been chafing under the government's reins and want to exit the Troubled Asset Relief Program (TARP), which delivered capital infusions to banks along with limits on pay, share repurchases and dividends. *** "It is very desirable to get out from under this," said Michael Holland, president of money manager Holland & Co in New York. "This is a crisis situation that one would hope is now behind us. The longer they are in it, the more we are being told by the feds that this isn't behind us."
(Excerpt) Read more at finance.yahoo.com ...
A pattern is developing ...
It wasn’t about fixing the economy,
It wasn’t about fixing the banks,
It wasn’t about fixing the auto companies,
It wasn’t about fixing the economy ...
Nope it was about Obama’s government destroying America’s economic system.
They can leave government oversight when they get their balance sheets cleaned up and carry the assets at market value and not the fictitious stress test values. The phonies should be seized and taken outside and shot.
Are they paying back what they borrowed, and if they are where is the money?
+1,000
This sucks.
takeover
STI also wants out. Let my banker go. Where is Marty when we need him.
When Israel was in Egypt’s land: Let my people go,
Oppress’d so hard they could not stand, Let my People go.
Go down, Moses,
Way down in Egypt land,
Tell old Pharaoh,
Let my people go.
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