Finally, News of TARP finally being used for what it was intended

#1
rjd970

rjd970

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#1
FOXNews.com - Citigroup to Deploy $36.5 Billion to Boost Lending - Local News | News Articles | National News | US News

"Our responsibility is to put these funds to work quickly, prudently and transparently to increase available lending and liquidity," said CEO Vikram Pandit in a statement included in the report.

"TARP capital will not be used for compensation and bonuses, dividend payments, lobbying or government relations activities, or any activities related to market, advertising and corporate sponsorship," Pandit said
Click to expand...

It's nice to have no news of bonuses, remodeled bathrooms, corporate jets, or increased lobbying efforts.
 
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#2
#2
Actually it was intended to buy troubled assets (see name). Using it for lending was not the originally intended purpose, it was the modified purpose after it was sold and passed.
 
#4
#4
this sucks... BAC is getting hammered... down 12% on heavy volume

Come on Obama do something, save these banks and everyones 401k while you are at it

If C or BAC go BK we are in serious trouble
 
#5
#5
you notice citi didn't mention how many loans they made before they got the money. i'd love to know if the number actually went up by $35 bil. i'd bet you any amount it didn't.
 
#6
#6
Bank America's fate was sealed when it decided to give loans and credit cards to illegal aliens.
 
#7
#7
volinbham said:
Actually it was intended to buy troubled assets (see name). Using it for lending was not the originally intended purpose, it was the modified purpose after it was sold and passed.
Click to expand...

Right. I stand corrected.

This is still a better use of the money IMO.
 
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