Monday, April 20, 2009

Black Helicopters, Indeed

Here's something interesting I picked up from the Financial Times:
Strong banks will be allowed to repay bail-out funds they received from the US government but only if such a move passes a test to determine whether it is in the national economic interest, a senior administration official has told the Financial Times.

I don't believe the story as long as the source is "a senior administration official" (who is never identified in the article), but if this turns out to be the case, I find it very disturbing. If a private business is getting understandably leery of the increasing strings attached to government loans and wants to pay back the taxpayers' money, more power to them.

2 comments:

Cousin Pat from Georgia said...

I wouldn't believe the story based on simple political reality. With Americans, left and right, as pissed off as they are about the bailouts, banks not being allowed to pay back the tax money would be political suicide, pure and simple.

And it can't just be a "we talked about this in a brainstorming session with no-holds-barred" thing, either. It only counts if it actually becomes policy.

Until then, I'll chalk it up to political gamesmanship and more phantoms to chase.

Dante said...

If this story were in the Wall Street Journal, I probably wouldn't even have bothered, chalking it up to "political gamesmanship" myself. But the Financial Times? If this made print there then I think at the very least the unnamed source believes what was printed. The pink paper is one of the few in Britain that doesn't often jump out on limbs and they really have no axe to grind on the issue.

And for what it's worth, I don't think it "counts" yet but it is something to keep an eye on.