Ten large US banks to repay $68B in Bailout Money

By: AP Email
By: AP Email

WASHINGTON (AP) - Ten large U.S. banks are planning to repay the
government about $68 billion in bailout money Wednesday, a pair of
industry officials say.
The Treasury Department last week gave the 10 banks permission
to repay the funds, which they received under the $700 billion
bailout plan, known as the Troubled Asset Relief Program. That
effort to unfreeze credit markets launched as global markets seized
up last October.
Wednesday is the first day the banks are eligible to repay the
money.
The banks repaying TARP are some of the industry's largest,
including JPMorgan Chase & Co., American Express Co., Goldman Sachs
Group Inc. and Morgan Stanley.
The two industry officials spoke on condition of anonymity
because not all of the banks' official announcements have been
made.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 48281522 - kbtx.com/a?a=48281522