I keep hearing about how banks want to pay back the government some of the bailout monies they have received and the government has refused it. That has always puzzled me, especially since our government can’t explain where all of the money has gone. Maybe that’s the problem, accounting???
Stocks slip ahead of decision on which banks can repay bailout funds; European markets drop
Stephen Bernard, AP Business Writer
On Monday June 8, 2009, 9:58 am EDT
NEW YORK (AP) -- Investors turned away from stocks ahead of the latest government report card on banks.
"Stocks fell Monday, sending the Dow Jones industrial average down by about 100 points. Overseas markets also pulled back.
The government is expected to announce as early as Monday which banks will be allowed to return bailout funds. JPMorgan Chase & Co., Goldman Sachs Group Inc. and American Express Co. are expected to get approval to repay their loans, according to The Washington Post."
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