Word: tarp
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Dates: during 2000-2009
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...month ago in need of $1.8 billion in additional capital. But in the past month the bank was able to raise nearly $7 billion by selling new shares of stock. The result: Morgan says those stock sales and other moves will allow the bank to repay all of its TARP funds by the end of June. And Morgan won't be alone. All told, eight of the 19 banks will tell regulators that they plan to pay back their TARP funds in the near future. (Watch TIME's video of Peter Schiff trash-talking the markets...
...Warren might consider it if she was not so deeply involved in the TARP business, which is ultimately more important,” says one faculty member...
...took to buy those assets. But still, [former Treasury Secretary Henry] Paulson and others haven't faced the one issue that has to be dealt with, and that's what you do with these loans and this bad real estate. Instead of that, they passed out all this TARP money to banks, and the banks aren't lending because the essential problem hasn't yet been solved...
...Banks exiting the TARP program are also looking to buy back the warrants they issued to the government in order to receive TARP funds. David Hendler, an analyst at CreditSights, estimates that it would cost JPMorgan nearly $2.6 billion to buy back their warrants from the government. "Banks may have to spend substantial sums to pay back their TARP warrants," says Hendler. Proponents of the banks paying back the government say the higher borrowing costs will only be temporary. As the market improves, banks will be able to issue bonds on their own at lower rates. Indeed, so-called bank...
...Still, the high costs of being TARP-free are causing some banks to say that for the time being they are better off with the government funding than without it. PNC Financial's chief executive Jim Rohr recently told Bloomberg that his bank, which got $7.6 billion in TARP funds, is planning on taking its time to repay the government. Doing anything else, he said, "would be punitive to shareholders...