In the scheme of things it’s a bit trifling but this month’s report from the Congressional Oversight Committee charged with reviewing the execution of TARP and other facets of the financial services rescue is an object lesson in what can and may have gone wrong with the program. It deals with the plight of small […]
Posts Tagged ‘community banks’
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Zombie Community Banks
Posted by Tom Lindmark on June 27th, 2009
With all the hoopla this week about the big banks repaying their TARP loans you would tend to think that the program is, if not winding down, then in a collect the interest and wait for repayment mode. If that’s the case, they you’re thinking if wrong. The WSJ reports that the Treasury is busier […]
Deadbeat Banks
Posted by Tom Lindmark on June 22nd, 2009
The Wall Street Journal reports that three banks that received TARP funds have stopped paying the required dividends to the Treasury. The Treasury says a “number” of banks have not been making their payments. From the WSJ: Pacific Capital Bancorp, a Santa Barbara, Calif., lender that got $180.6 million from the Treasury Department in November, […]
