Tuesday, June 9, 2009

Banks pay back TARP Funds

Financial stocks went up after 10 banks who received government help paid back their TARP funds. The banks are JPMorgan Chase (JPM) , Goldman Sachs (GS), American Express (AXP), Morgan Stanley (MS), Capital One Financial (COF), U.S. Bancorp (USB), BB&T (BBT), State Street (STT), Bank of New York Mellon (BK), and Northern Trust (NTRS). Absent from the lists were of course Citigroup (C), Bank of America (BAC), and Wells Fargo (WFC), which is suppose to be a healthy bank. The Select Sector SPDR-Financial ETF (XLF), is now up 99.7% since March 9, the day the market bottom.

Now that these so-called healthy banks have repaid their TARP funds, are they still allow to receive government help if the economy worsens?

I do not have any stock position in any of the companies mentioned in this article at the time of writing of this article.


  1. I don't know how the government pick who to help and who don't. The takeover (or shall I called "buyout" with minimal money) of WaMu by JPM as arranged by the government sounds a scam to me.

  2. It is a scam! The government is in it for the money!