Word: bankes
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...even an economic recovery can stop the bank bailout...
What's more, many of the banks getting money now appear to be in fine financial shape. U.S. Century Bank, for example, boosted its net interest earnings, a key measure of profitability for banks, nearly 20%, to $12.6 million, in the second quarter of this year. Yet in early August the government decided to send the bank $50.2 million in TARP funds. U.S. Century executives say they plan to use the money to increase lending and boost profits. "The banks that are getting the TARP money now really don't need it," says Steve Verdier, who heads government affairs...
...Treasury Department says the TARP funds were never meant to solely prop up failing banks. In fact, officials say one of the criteria for getting funds under the TARP's Capital Purchase Program, in which the government injects money into a bank in return for preferred shares, is proof that a bank could survive on its own. While the Treasury is winding down some of its programs meant to assist the financial sector, it has no plans to end the TARP program early. The Treasury Department says it is still getting new requests from banks for TARP funds. (Small banks...
...convince the Israelis to halt settlement, and now they want a photo opportunity," a Palestinian official speaking to Reuters said of the New York City meeting. "We'll do this not to upset Obama. But it's a victory for Netanyahu." (See pictures of life in the West Bank settlements...
...case is known as "Clearstream" - a reference to a Luxembourg bank in which a number of top French politicians and business figures purportedly held accounts containing illegal kickback money from arms contracts. Those claims turned out to be false - as was the forged list of names of 89 Clearstream account holders that was sent to a French investigating judge in 2004 by an anonymous whistle-blower. Among those cited were then Finance Minister Sarkozy, who at the time was locked in a fierce battle with his boss, Prime Minister de Villepin, over who would run as the right's standard...