Place Your Bets on Who Can Pay Back TARP
The Fed wants to hear how some of the lagging TARP banks plan to pay that shit off now that the Fed has declared they can. This should work out great.
Have they seen SunTrust lately? Atlanta fucking Fed! Wake up! You have the MOST #bankfailfriday banks of ALL Fed regional banks and can't afford to blow this one. You also have Regions, who is trying to loan money to a BANKRUPT COUNTY (one which was robbed blind by JP Morgan, by the way). What the fuck are you guys doing over there? Uh yeah.
The U.S. Federal Reserve this month asked nine banks that were part of "stress tests" conducted earlier this year to submit plans to repay money injected under the Troubled Asset Relief Program (TARP), Bloomberg said, citing a person familiar with the situation.
The banks may be allowed to repay the TARP money soon if they have been able to raise common equity recently and would continue to exceed capital buffers that were set in the stress tests, the news agency cited the person as saying.
The Federal Reserve did not immediately return a Reuters email seeking comment that was sent outside of regular U.S. business hours.
The Federal Reserve Board said earlier this month that nine of 10 large banks ordered to raise capital in May had met or exceeded their goals, with the exception of GMAC LLC.
Yeah ok, I'm anxious to see how that works out. The stress tests were bogus from the gate, using unemployment numbers that we blew right past before the results even came out and pre-fabricated "destination points" for results. Here, Pandit, fill out this worksheet and tell me how much capital you have. Bwhahahahaha you're fucking kidding me, right?