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06/09/2009 05:37 PM ID: 79105 Permalink   

U.S. approves 10 banks repaying bailout funds

 

U.S. officials on Tuesday gave 10 of the nation's biggest banks approval to pay back a combined $68 billion of taxpayer money pumped into them to combat the credit crisis.

The Treasury Department did not name the banks but many of them are likely to announce they are making repayments and their names eventually will be published in routine Treasury reports.

 
  Source: money.cnn.com  
    WebReporter: Mr.Science Show Calling Card    
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  5 Comments
  
  This kind of dovetails well  
 
with the story, also reported on SN about 9 out of the 11 banks not really needing the money in the first place, but the government using heavy-handed techniques to force the banks to take the money anyway.
 
  by: TheIdiotUpstairs   06/09/2009 07:17 PM     
  Uh-oh  
 
The sucking sound you hear is the "Government Scheming to Socialize the Banks" conspiracy theory going down the drain.

I guess that wasn't the worst I ever heard, though. Somebody on the Internets had a prophesy that Israel would nuke Iran before Obama's inauguration, after all.
 
  by: Ben_Reilly     06/09/2009 10:16 PM     
  ummm?  
 
I'm at a loss here, and don't understand...

Why do they have to get approval to repay?
 
  by: N3T_K1LLA     06/10/2009 05:55 AM     
  @NK  
 
Regulators want to make sure these banks really don't need the funding, and that their directors aren't just playing politics here. The government decided under Bush to protect the public by averting a collapse of the banking system, and I support that wholeheartedly. I'd like to see those who got us into this mess in prison, but thanks to folks like Phil Gramm, most of them didn't break any laws.
 
  by: Ben_Reilly     06/10/2009 06:29 AM     
  Er  
 
Yah know I find it funny that the banks wanted to pay it back, and the govt had to 'approve it'.
 
  by: jediman3     06/10/2009 03:50 PM     
 
 
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