Friday, May 08, 2009

Why am I not surprised about this:
The Federal Reserve at the last minute significantly scaled back the size of the capital hole facing some of the nation's biggest banks, following days of intense bargaining over the stringency of the stress tests.
When the Fed last month informed banks of its preliminary stress-test findings, executives at banks including Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. were furious ...
It's all about appearances. Always has been. Always will be.


Interesting how the banks who "need" additional TARP money just happen to be the banks holding GM and Chrysler bonds.

Once they have been strong-armed into surrendering their GM bonds for pennies on the dollar, the government will probably let them repay their tarp funds. Until then, they better keep their mouths shut if they know what's good for them.

Nice corporation you have there. Wouldn't want something to happen to it, would you?

By Anonymous Anonymous, at 5/08/2009 6:49 PM  

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