Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (486534)	6/9/2009 12:27:46 PM
From: TideGlider	Read Replies (1) \| Respond to of 1571415

I think you should go train in a terror camp or if you are infirm, get a job at Disneyland.

To: Wharf Rat who wrote (486534)	6/9/2009 12:28:20 PM
From: Wharf Rat	1 Recommendation Read Replies (1) \| Respond to of 1571415

US banks to pay back $68bn in rescue funds Hopes of a return to stability in the bombed-out banking sector were raised by plans for ten banks to repay their loansElizabeth Judge Ten bailed-out banks have been cleared to pay back a combined $68 billion of Government aid in a move greeted by investors as a sign stability is returning to the bombed-out sector. The Treasury said it had told ten un-named institutions that they had raised enough new capital to enable them to repay loans made under the Troubled Asset Relief Program or Tarp. Several banks including JP Morgan Chase, Capital One Financial, Morgan Stanley and BB&T Corporation, immediately announced they would take-up the offer. JP Morgan said it would repay in full a $25 billion investment along with dividends. Jamie Dimon, the group's chairman and chief executive, said: “Paying back TARP at this time is the right thing for JPMorgan Chase, and it’s the right thing for our country We feel it’s best for our government to be able to use these funds for other critical purposes.” Kelly King, chief executive of BB&T, said the group would repay $3.134 billion. "Repaying the Government's investment will give us greater flexibility to benefit significantly from future opportunities that will be available as we emerge from this recession," he said. The others said to have been cleared were Goldman Sachs, Bank of New York Mellon, Northern Trust, State Street, American Express and US Bancorp. Many of the banks had winced at the restrictions accompanying the bail-out funds such as limits on executive pay. The Treasury expects a windfall of up to $68 billion dollars. In a statement it said the repayments "follow a period in which many banks have successfully raised equity capital from private investors." Timothy Geithner, the Treasury Secretary, said: "These repayments are an encouraging sign of financial repair but we still have work to do." William Lekfowitz, a strategist with VFinance Investment, said: "People should be pretty comfortable that now the Government is allowing these banks to pay back the TARP money, they fully believe the worst is behind us." Stocks initially rallied on the news but quickly fell back ahead of a 3-year Treasury note auction. Investors fear that an oversupply of Government debt could push interest rates higher. The Dow jones industrial Index was down 26.37 points or 0.30 per cent at 8,738.12 at 11.30am in New York. business.timesonline.co.uk

To: Wharf Rat who wrote (486534)	6/9/2009 5:36:34 PM
From: longnshort	Read Replies (2) \| Respond to of 1571415

"but he won't get my vote next time if we haven't started to prosecute our war criminals." Well you better look for another person to vote for because Obama's not gonna do a thing, because he knows if he does he will be in handcuffs a week after he leaves office