Friday, April 24, 2009

Banks Flee Money

Financial institutions that were recently approved to receive federal TARP funds have withdrawn their applications, most since the start of the Obama adminstration.

Almost two hundred fifty of them altogether.

Given all the changes after the fact to the deals to which they initially agreed, the bankers decided that the government is an untrustworthy business partner.

Bankers refusing to lend money is one thing, but when they refuse to take your money, well, that's a really strong message.

What do you call it when 250 recipients of federal largesse refuse to take the money?

A start.

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