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: Kentucky Law Blog

RANDOM THOUGHT: Where did all that money come from for those banks repaying stimulus money?

By Michael Stevens

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Now riddle me this Batman. 

If many of our nation's banks were in a financial meltdown and needed funds just months ago and to the tune of billions upon billions of dollars, then where did all that money come from recently to start paying off those stimulus funds?

Makes you want to say something like, Hmmmmmmm. 

Was there a financial need, and was it real, perceived, or fictional?

Was there a financial panic at the bank or just a bunch of pecuniary lemmings running off the cliff and now that they have hit the water, they do not want anything to do with federal control and want to give back the money?

Oh well.  Where is that inspector general the Prez wants to fire?  A little oversight here might be beneficial.

Here's the story from the CJ:

WASHINGTON ? Ten large U.S. banks are planning to repay the government about $68 billion in bailout money Wednesday, June 17, a pair of industry officials have told The Associated Press.

Full post as published by Kentucky Law Blog on June 24, 2009 (boomark / email).

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