Will Obama Allow Goldman Sachs to Repay TARP
Posted in Barack Obama on April 14th, 2009 by John H – Be the first to commentReuters reports that the Goldman Sachs Group sold $5 billion worth of its stock to “dutifully” repay a federal bailout.
“We never believed the investment of taxpayer funds was intended to be permanent,” Goldman CFO David Viniar said on a conference call on Tuesday. “We view it as our duty to return the funds, as long as we can do it without negatively impacting our financial profile, or ability to act as a central liquidity provider to the global capital markets.”
However, the Treasury Department is concerned that the repayment will harm the recovery effort and motivate other banks to return their bailout money.
Seeing as how the Obama administration has already prevented another bank from repaying it’s bailout money for the “greater good” I have a notion that the answer is nein.
True to Obama’s word, his administration is the only thing between Americans and the banks who want to return their money.
