100% FREE ONLINE DATING
sponsored links
Previous
| Topic: Ten banks allowed to pay back TARP | |
|---|---|
|
|
|
NEW YORK (CNNMoney.com) -- Ten leading banks won approval to repay money from the government's controversial TARP program, regulators said Tuesday, which could represent approximately $68 billion in bailout funds returned to taxpayers. The Treasury Department, which has overseen the $700 billion Troubled Asset Relief Program, did not indicate which banks were included in that group, although most lenders confirmed the news separately. Eight of the nine banks that were found to not need new capital following the government's bank stress tests last month made the list. JPMorgan Chase (JPM, Fortune 500), Goldman Sachs (GS, Fortune 500), American Express (AXP, Fortune 500), Bank of New York Mellon (BK, Fortune 500), State Street (STT, Fortune 500) as well as regional banking giants Capital One (COF, Fortune 500), BB&T (BBT, Fortune 500) and U.S. Bancorp (USB, Fortune 500) all said they will pay back TARP funds. (Insurer MetLife also was not required to raise capital but it did not receive any TARP money.) Investment bank Morgan Stanley (MS, Fortune 500), which was the only financial firm that regulators did ask to raise money after the stress tests, confirmed it also won approval from the Treasury Department to pay back $10 billion. Chicago-based Northern Trust (NTRS, Fortune 500), which took in $1.576 billion under the program but was not part of the bank stress tests, also announced Tuesday it is paying back TARP funds. So far, the Treasury Department has allowed nearly two dozen small, mostly community-based lenders to redeem the government's preferred shares, representing nearly $1.9 billion in taxpayer money. Should the latest banks agree to redeem the company's preferred-shares the government acquired last fall, that would represent approximately another $68 billion in TARP repayments. "These repayments are an encouraging sign of financial repair, but we still have work to do," Treasury Secretary Tim Geithner said in a statement. Proceeds received from those 10 banks will be applied to the Treasury Department's general account, the agency said Tuesday, some of which be will used to promote financial stability should the economy take a turn for the worse. A portion of those funds will also be used to reduce Treasury's borrowing and the nation's rapidly rising level of debt. The banks that buy back the government's stake will also be able to repurchase the warrants, or rights to purchase shares at a future date, the government acquired when it injected capital into many of these banks late last year. Treasury said those obligations could be purchased at a "fair market value", but that banks wishing to repurchase warrants would have to hire an independent advisor to come up with that number. Those estimates, however, would have to match those of the Treasury Department before banks get the go ahead to repurchase the warrants. http://money.cnn.com/2009/06/09/news/companies/banks_tarp/index.htm?postversion=2009060910 What will this mean to me? Does this mean that the banks will ease up on credit cards issuances? loans? Will they cut a check made out to me (taxpayer)? And why did they have to win approval? Hell if someone owes me there is no approval needed, you owe, pay it back. |
|
|
|
|
|
|
 I read the topic as ten bucks and sad thing is...I read the story earlier too
|
|
|
|
|
|
|
|
|
I read the topic as ten bucks and sad thing is...I read the story earlier too
wonder what's on your mind
|
|
|
|
|
|
|
|
The bailout may have been too large but you have to give Obama credit for the way he designed the package. All the companies involved were incentivized to clean up their act and are being forced to repay before they can pay their officers as they please.
Nice motivation to get it together I'd say. And it's starting to work ... like it or not. No more Rick Waggoner at GM. Ten banks paying back their loan. Chrysler being saved via government-brokered sale to Fiat. (Save for Ginsburg sticking her nose into the fray temporarily.) Unemployment claims dropping. Housing market slump slowing drastically. It's looking pretty well orchestrated to this point, despite your political leaning. I just wonder if anyone to the far right will have the kutzpah to admit a job well done, if it finishes like it's started. We are, after all, in this together. (Everyone except Limbaugh, Gingrich and Cheney. They want America to collapse just so they can satiate their ego by being proclaimed correct.) |
|
|
|
|
|
|
|
|
The bailout may have been too large but you have to give Obama credit for the way he designed the package. All the companies involved were incentivized to clean up their act and are being forced to repay before they can pay their officers as they please. Nice motivation to get it together I'd say. And it's starting to work ... like it or not. No more Rick Waggoner at GM. Ten banks paying back their loan. Chrysler being saved via government-brokered sale to Fiat. (Save for Ginsburg sticking her nose into the fray temporarily.) Unemployment claims dropping. Housing market slump slowing drastically. It's looking pretty well orchestrated to this point, despite your political leaning. I just wonder if anyone to the far right will have the kutzpah to admit a job well done, if it finishes like it's started. We are, after all, in this together. (Everyone except Limbaugh, Gingrich and Cheney. They want America to collapse just so they can satiate their ego by being proclaimed correct.) Despite my political leaning? Tell me, which way do I lean? I am not blaming nor praising anyone, I am asking how it pertains to me the taxpayer. |
|
|
|
|
|
|
|
|
The bailout may have been too large but you have to give Obama credit for the way he designed the package. All the companies involved were incentivized to clean up their act and are being forced to repay before they can pay their officers as they please. Nice motivation to get it together I'd say. And it's starting to work ... like it or not. No more Rick Waggoner at GM. Ten banks paying back their loan. Chrysler being saved via government-brokered sale to Fiat. (Save for Ginsburg sticking her nose into the fray temporarily.) Unemployment claims dropping. Housing market slump slowing drastically. It's looking pretty well orchestrated to this point, despite your political leaning. I just wonder if anyone to the far right will have the kutzpah to admit a job well done, if it finishes like it's started. We are, after all, in this together. (Everyone except Limbaugh, Gingrich and Cheney. They want America to collapse just so they can satiate their ego by being proclaimed correct.) Despite my political leaning? Tell me, which way do I lean? I am not blaming nor praising anyone, I am asking how it pertains to me the taxpayer. It was a general statement Fran ... not aimed at you. It's money returned to you the taxpayer. |
|
|
|
|
|
|
|
|
The bailout may have been too large but you have to give Obama credit for the way he designed the package. All the companies involved were incentivized to clean up their act and are being forced to repay before they can pay their officers as they please. Nice motivation to get it together I'd say. And it's starting to work ... like it or not. No more Rick Waggoner at GM. Ten banks paying back their loan. Chrysler being saved via government-brokered sale to Fiat. (Save for Ginsburg sticking her nose into the fray temporarily.) Unemployment claims dropping. Housing market slump slowing drastically. It's looking pretty well orchestrated to this point, despite your political leaning. I just wonder if anyone to the far right will have the kutzpah to admit a job well done, if it finishes like it's started. We are, after all, in this together. (Everyone except Limbaugh, Gingrich and Cheney. They want America to collapse just so they can satiate their ego by being proclaimed correct.) Despite my political leaning? Tell me, which way do I lean? I am not blaming nor praising anyone, I am asking how it pertains to me the taxpayer. It was a general statement Fran ... not aimed at you. It's money returned to you the taxpayer. ahh ok CB - how will this money be returned to me? I'd like it in a cashiers check 
|
|
|
|
|
|
|
|
|
It goes back into next year's budget, since we will be operating at a deficit for a while. Maybe we can buy some of that tainted Chinese drywall and renovate Ellis Island.
Better yet, who wants to see Bernie Madoff waterboarded on live television? |
|
|
|
|
|
|
|
|
It goes back into next year's budget, since we will be operating at a deficit for a while. Maybe we can buy some of that tainted Chinese drywall and renovate Ellis Island. Better yet, who wants to see Bernie Madoff waterboarded on live television? ok now I know you can help me, if these monies will be going into next year's budget, why is my local government increasing prices, reducing services and releasing x amt of employees? Why am I paying taxes above and beyond what I have paid if they are getting their money back? |
|
|
|
|
|
|
Edited by
CleanBathroom
on
Tue 06/09/09 11:31 AM
|
|
It goes back into next year's budget, since we will be operating at a deficit for a while. Maybe we can buy some of that tainted Chinese drywall and renovate Ellis Island. Better yet, who wants to see Bernie Madoff waterboarded on live television? ok now I know you can help me, if these monies will be going into next year's budget, why is my local government increasing prices, reducing services and releasing x amt of employees? Why am I paying taxes above and beyond what I have paid if they are getting their money back? Your local government is primarily funded by local sales and property taxes, which have been on the decline in severe fashion for some time .... esp property taxes as home values have deflated. The Federal government is providing the state with monies for roads, etc and some stimulus money, but it is a drop in the bucket compared to the state's primary sources of revenue. Also to consider is that Florida has taken a bath in the market ... particularly with the collapse of Lehman Brothers, where Florida had a gigantic chunk of its pension fund invested, causing budgetary shortfalls. Obama extended Bush's tax cuts for the time being, so you shouldn't see an increase in taxes unless you are one of the highest earners. Nonetheless, state services will be cut due to decreasing revenues as I mentioned earlier. That will take some time to cycle back into the black. The key in Florida is for the housing market to rebound. Then you'll see things normalize. The gambling accord Crist cut with The Seminole tribe to bring in gambling dollars would have helped. Hopefully, something gets done there. Also, the new taxes levied on cigarettes will add some "sin" tax cash. I was hoping they'd slam another tax on liquor also but Floridians like their booze too much and politicians are scared. |
|
|
|
|
|
|
|
|
OH ... and tourism is down also. That's like 5 cents lost for every dollar NOT spent on hotel rooms and rental cars because people are travelling less without disposable income.
Wanna' split a studio apartment Fran? I'll buy the hot pockets! 
|
|
|
|
|
|
|
|
|
OH ... and tourism is down also. That's like 5 cents lost for every dollar NOT spent on hotel rooms and rental cars because people are travelling less without disposable income. Wanna' split a studio apartment Fran? I'll buy the hot pockets!
 hmmm split a studio apartment???
sounds delightful, I am not much of a sleeper though, you ok with that
nix hot pockets - don't like them |
|
|
|
|
|
|
|
|
OH ... and tourism is down also. That's like 5 cents lost for every dollar NOT spent on hotel rooms and rental cars because people are travelling less without disposable income. Wanna' split a studio apartment Fran? I'll buy the hot pockets!
hmmm split a studio apartment???
sounds delightful, I am not much of a sleeper though, you ok with that
nix hot pockets - don't like them Fruit salad it is then.
Can Lilith come over for a pajama party?  
|
|
|
|
|
|
|
|
|
It goes back into next year's budget, since we will be operating at a deficit for a while. Maybe we can buy some of that tainted Chinese drywall and renovate Ellis Island. Better yet, who wants to see Bernie Madoff waterboarded on live television? ok now I know you can help me, if these monies will be going into next year's budget, why is my local government increasing prices, reducing services and releasing x amt of employees? Why am I paying taxes above and beyond what I have paid if they are getting their money back? Your local government is primarily funded by local sales and property taxes, which have been on the decline in severe fashion for some time .... esp property taxes as home values have deflated. The Federal government is providing the state with monies for roads, etc and some stimulus money, but it is a drop in the bucket compared to the state's primary sources of revenue. Also to consider is that Florida has taken a bath in the market ... particularly with the collapse of Lehman Brothers, where Florida had a gigantic chunk of its pension fund invested, causing budgetary shortfalls. Obama extended Bush's tax cuts for the time being, so you shouldn't see an increase in taxes unless you are one of the highest earners. Nonetheless, state services will be cut due to decreasing revenues as I mentioned earlier. That will take some time to cycle back into the black. The key in Florida is for the housing market to rebound. Then you'll see things normalize. The gambling accord Crist cut with The Seminole tribe to bring in gambling dollars would have helped. Hopefully, something gets done there. Also, the new taxes levied on cigarettes will add some "sin" tax cash. I was hoping they'd slam another tax on liquor also but Floridians like their booze too much and politicians are scared. Crist is the source of my discontentment - he is raising taxes here, there, every flipping where because of the supposed tax break (payroll) wtf!!!! Tuition also going up, he approved the insurance comps to raise their rates. WTF all I receive is an extra $8-14/a wk yet with all the add ons, fees, etc., I am out approx twice the allotted "stimulus" tax break - not feeling very stimulated... 
now back to our regularly scheduled show
|
|
|
|
|
|
|
|
|
OH ... and tourism is down also. That's like 5 cents lost for every dollar NOT spent on hotel rooms and rental cars because people are travelling less without disposable income. Wanna' split a studio apartment Fran? I'll buy the hot pockets!
hmmm split a studio apartment???
sounds delightful, I am not much of a sleeper though, you ok with that
nix hot pockets - don't like them Fruit salad it is then.
Can Lilith come over for a pajama party?
What is this pajama you speak of 
|
|
|
|
|
|
|
|
|
It goes back into next year's budget, since we will be operating at a deficit for a while. Maybe we can buy some of that tainted Chinese drywall and renovate Ellis Island. Better yet, who wants to see Bernie Madoff waterboarded on live television? ok now I know you can help me, if these monies will be going into next year's budget, why is my local government increasing prices, reducing services and releasing x amt of employees? Why am I paying taxes above and beyond what I have paid if they are getting their money back? Your local government is primarily funded by local sales and property taxes, which have been on the decline in severe fashion for some time .... esp property taxes as home values have deflated. The Federal government is providing the state with monies for roads, etc and some stimulus money, but it is a drop in the bucket compared to the state's primary sources of revenue. Also to consider is that Florida has taken a bath in the market ... particularly with the collapse of Lehman Brothers, where Florida had a gigantic chunk of its pension fund invested, causing budgetary shortfalls. Obama extended Bush's tax cuts for the time being, so you shouldn't see an increase in taxes unless you are one of the highest earners. Nonetheless, state services will be cut due to decreasing revenues as I mentioned earlier. That will take some time to cycle back into the black. The key in Florida is for the housing market to rebound. Then you'll see things normalize. The gambling accord Crist cut with The Seminole tribe to bring in gambling dollars would have helped. Hopefully, something gets done there. Also, the new taxes levied on cigarettes will add some "sin" tax cash. I was hoping they'd slam another tax on liquor also but Floridians like their booze too much and politicians are scared. Crist is the source of my discontentment - he is raising taxes here, there, every flipping where because of the supposed tax break (payroll) wtf!!!! Tuition also going up, he approved the insurance comps to raise their rates. WTF all I receive is an extra $8-14/a wk yet with all the add ons, fees, etc., I am out approx twice the allotted "stimulus" tax break - not feeling very stimulated...
now back to our regularly scheduled show
He'll be gone soon enough anyway. He's your next Senator. |
|
|
|
|
|
|
|
|
OH ... and tourism is down also. That's like 5 cents lost for every dollar NOT spent on hotel rooms and rental cars because people are travelling less without disposable income. Wanna' split a studio apartment Fran? I'll buy the hot pockets!
hmmm split a studio apartment???
sounds delightful, I am not much of a sleeper though, you ok with that
nix hot pockets - don't like them Fruit salad it is then.
Can Lilith come over for a pajama party?
What is this pajama you speak of
That's officially hot btw ... nice work. 
|
|
|
|
|
|
|
|
|
I think you're pretty HAWT too
|
|
|
|
|
|
|
|
 
You rock Fran!  Keep up the A-list flirting. We appreciate it. 
|
|
|
|
|
|
|
|
 who me
|
|
|
|
|
