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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on June 29, 2010, 04:53:22 PM

Title: More Than 90 Banks Miss TARP Payments
Post by: Bindare_Dundat on June 29, 2010, 04:53:22 PM

By: Reuters

More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.

The statistics, compiled by SNL Financial from U.S. Treasury data, showed 91 banks and thrifts skipped the May dividend payment under the Troubled Asset Relief Program, or TARP. It was the first missed payment for 23 of the banks; for the others, it was at least their second miss.

While many of the largest U.S. banks easily repaid billions in TARP aid, more than 600 smaller banks still hold $130 billion from the program, created at the height of the financial crisis.

Title: Re: More Than 90 Banks Miss TARP Payments
Post by: Soul Crusher on June 29, 2010, 07:14:43 PM

The whole thing is collapsing.