Bailouts

Will Banks Give Bailouts Back?

A few months ago, it seemed banks couldn’t do enough for taxpayer money. Now, some want to give it back. According to The New York Times, several banks, including Goldman Sachs and Wells Fargo, are complaining about onerous restrictions attached to the bailout money and plan to return it as soon as regulators set up a process to accept the funds. Restrictions include slashing dividends, allowing shareholders to vote on executive pay, canceling employee training exercises, and withdrawing job offers to foreign citizens. The Times reports “One of the biggest concerns of the banks is that the program lets Congress and the administration pile on new conditions at any time.”