Bailout Refund Is All About Pay, Pay, Pay

[FBaggins]

Strike up the band! Bank of America is paying back $45 billion in taxpayer-provided bailout money, and the government now says it expects to get back $200 billion in those funds faster than it imagined. The banks are getting back on their feet, the markets have stabilized, even unemployment isn't as bad as many feared. Great news, right?

Sorry for a little rain on this parade, but take a moment to consider why Bank of America was really in such a rush to pay back the money it borrowed from the Troubled Asset Relief Program, or TARP.

Sure, its business had improved, somewhat. But there was another reason why the bank locked horns with Sheila C. Bair, chairwoman of the Federal Deposit Insurance Corporation, who was against the plan because she did not think the firm was healthy enough, according to people briefed on the conversations.


http://finance.yahoo.com/banking-budgeting/article/108328/bailout-refund-is-all-about-pay-pay-pay?sec=topStories&pos=6&asset=&ccode=

[Renew Deal]

1. Interesting article

[dmallind]

2. Of course - but would you prefer the mioney back or prefer to limit someone's pay? NT