"Banks must follow rules for repaying government bailout funds" by Madlen Read, Associated Press | May 12, 2009
NEW YORK - So far, no large US bank has returned funds received from the Troubled Assets Relief Program, or TARP.
The reason for the rules? The last thing federal officials want is for a bank to return the funds, only to ask for more later. After Fannie Mae's warning last week that it needs an additional $19 billion from the government after receiving $15 billion in March, it is clear that the financial crisis is not yet over.
Related: One Final Fannie F*** From the Boston Globe
And whadda ya mean it's not over?
Recession Is Over According to Financial Experts
Those the same experts who his one for ten months?
"Regulators need to be very careful on their own credibility," said Paul Miller, a bank analyst with Friedman, Billings, Ramsey & Co. "They've got to be very careful that they don't give a seal of approval to a system that is not stable yet. There are a lot of other shoes that could drop in this economy."
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