Several of the banks that received money in last year’s TARP bailout funds are making significant headway in repaying those funds. Citigroup, Wells Fargo and Bank of America all seemed determined to quickly repay the government, thereby escaping imposed restrictions on bonuses and possibly other spending.
Its pretty amazing that institutions that were in such trouble not so long ago could repay such a large amount in such a short period of time. I would say that makes these bailouts a smart investment for the federal government, with good return in good time. What does that mean for President Obama? That I’m not really sure, but maybe he could get a really great dog bed for his family puppy, Bo, with all the extra cash that is floating around now.