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  • Grassley Warns of Bailed-out Banks’ Repaying Bail-outs With Government Funds

    03/31/2011 7:04:16 AM PDT · by iowamark · 8 replies
    Chuck Grassley Senate site ^ | 03/29/2011 | Chuck Grassley
    WASHINGTON – Sen. Chuck Grassley is asking the Treasury secretary for assurances that banks bailed out with government funds will not be allowed to use another government program to pay back their bailouts. “The reports that banks from New York to Nashville are using federal dollars from the so-called Small Business Lending Fund to increase profits and ‘pay back’ TARP make this look like another TARP-style money shuffle,” Grassley said. “Replacing one form of government subsidy with another wasn’t a repayment when GM did it and it still isn’t. The Treasury Department has an obligation to put the brakes on...