Goldman Sachs to pay back Tarp money quickly

NEW YORK (Reuters) - News that Goldman Sachs Group Inc (GS.N) might quickly pay back taxpayer money could pressure able rivals to do the same.

The Treasury Department's $700 billion Troubled Asset Relief Program was intended to provide lenders with more capital to spur lending and improve the economy.

Hundreds of companies have taken TARP money, ranging from $45 billion accepted by both Citigroup Inc (C.N) and Bank of America Corp (BAC.N) to $541,000 by The Victory Bank of Limerick, Pennsylvania.

But with TARP now seen more as an albatross, expectations are growing that more banks will repay their money as soon as they can. That would also free banks from dividend payouts, typically 5 percent a year. as well as Congress' demonstrated willingness to change the rules of engagement.

Goldman Sachs' speed to repay TARP may spur others | Special Coverage | Reuters

 

Um hum, one of the companies AIG washed money to. Nothing new here genius.

 

that begs the queston, did they ever really NEED this money in the first place.
i mean, we were told these comapnies would go bankrupt without it and that it would devistate our economy



me thinks it was all just another big LIE from Washington

 

Yeah... Of course, the same people told us that Candidate Hussein was born in the US... and then had his Birth Certification Locked down by the Governor of Hawaii... They told us that he's NOT a Marxist and that he's a Christian... .

Huh... So now that it's confirmed that he's a Marxist, I wonder what ELSE could be out there waiting to SHOCK-US-ALL! ?

 

They saw free money. So of course they jumped at it.

Then once they saw the details, and even worse, how easily it is the change the agreement - not to mention the whole taxing the bonus thing - they said forget it.

 

If a bonus is paid entirely in Cowbells, will it be taxed?

 

i guess if the dems in congress hear about it, they will try to

 

Damn straight skippy. Forget this 35% or 70% or 90%....they are going for the whole thing baby.

100% tax on cowbells.

 

i would say it was forced on some.....How Paulson forced bail-out on the banks | Business | guardian.co.uk

 

i wouldnt put too much trust in the guardian
they have been pretty bad on telling the truth in the past