Yeah. You give a company some money and say "Oh, and you should be repaying this as soon as you can". Reckon it's going to be paid back any time soon? I don't.

Unless there's something in the contract that requires it to be paid back across so-many years, or something, it won't be. If it's just "when the bank becomes profitable", then it's open to abuses involving the definition of profit and still won't be paid back in the near future. And quite possibly the money won't _ever_ be paid back. Definitely won't be if the banks don't get chased for it - who ever heard of a bank voluntarily giving up money?
May 29, 2009 by admin ·

Two more banks have redeemed the shares they sold the government in exchange for bailout funding.

First Niagara Financial Group Inc., of Lockport, N.Y., said it repaid the $184 million it received seven months ago. BailoutSleuth reported previously on its plan to exit the bailout the program.
First Manitowoc Bancorp Inc., a Wisconsin-based company, said it had paid the Treasury $12.6 million to redeem the shares it issued in January. It also paid $21,800 in accrued dividends.
First Niagara’s chief executive, John P. Koelmel, said the taxpayer capital that the bank received through the Treasury Department’s Troubled Asset Relief Program had served its purpose.
“Our first quarter loan production increased by 8 percent over the same period a year ago as we continued to leverage the federal capital to make commercial and consumer credit readily available in the communities where we do business,” he said in a prepared statement. “When market conditions improved, we replaced the government’s investment with private capital”
First Niagara raised $380.4 million through a stock offering last month.
http://www.bearmarketinvestments.com/tag/tarp