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Did the Small Banks Really Benefit From the TARP?
Wall Street is however, back from its previous condition and has now started making profits. These banks have however not received any boost from the bailout of the taxpayers. Thus it is clear that the Wall Street leaves the smaller banks behind.
According to the spokesman of the Treasury Department, Mark Paustenbach, the Troubled Asset Relief Program is no doubt useful for the smaller banks because it still provides them with relief.
There were around 707 banks that participated in the Capital Purchase Program or the bailout of the bank. Among these 707 banks, there were 690 smaller banks and they had assets of around $1 billion. Majority of the Wall Street banks have paid back the money and are out of the grips of the government. On the other hand among the 690 small banks that had a total amount of $40 billion, they could repay only $15 billion. Thus there are only few Wall Street banks that have to return the loans for the bailout.
The Treasury Department however, did not have a proper plan by means of which they could help the small banks to repay back their loans and consequently make exit from the program.
In the CPP program, the inclusion of small banks was correct. In a report published earlier it was clear that the loans for the bailout from the TARP definitely helped the small banks to make more loans to the customers as well as to the small businesses.
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By mmanish on Business News | Wednesday July 14, 2010 09:21 am
Small banks have made little benefits through the program conducted by the Troubled Asset Relief. Wall Street was bailed out and warning has been issued that in the recent years to come the small banks would also be given a bail out as far as the taxpayers are concerned.Wall Street is however, back from its previous condition and has now started making profits. These banks have however not received any boost from the bailout of the taxpayers. Thus it is clear that the Wall Street leaves the smaller banks behind.
According to the spokesman of the Treasury Department, Mark Paustenbach, the Troubled Asset Relief Program is no doubt useful for the smaller banks because it still provides them with relief.
There were around 707 banks that participated in the Capital Purchase Program or the bailout of the bank. Among these 707 banks, there were 690 smaller banks and they had assets of around $1 billion. Majority of the Wall Street banks have paid back the money and are out of the grips of the government. On the other hand among the 690 small banks that had a total amount of $40 billion, they could repay only $15 billion. Thus there are only few Wall Street banks that have to return the loans for the bailout.
The Treasury Department however, did not have a proper plan by means of which they could help the small banks to repay back their loans and consequently make exit from the program.
In the CPP program, the inclusion of small banks was correct. In a report published earlier it was clear that the loans for the bailout from the TARP definitely helped the small banks to make more loans to the customers as well as to the small businesses.
ABOUT theOTCmarket.com:
TheOTCMarket.com(THEOTCM) is an investor-oriented resource centre offering relevant news and information vital to investors (individuals and firms) in the financial sector. It provides independent, unbiased and a comprehensive overview of any new development and trends in the investor and financial market. We alsoprovide in-depth analysis, research, insights and similar resources online.
TheOTCmarket.comoffers Stock Newsletter on various hot stocks of the day.
We also offer a news alert service on twitter by following our twits at http://twitter.com/theOTCmarket
We publish daily news in the form of our Market Snapshot and also provide daily Hot Stocks for its visitors. Additional attractions for investors and financial institutions are offered in the form of stock alerts, newsletters and other forms of subscribed information.
You can become leader in stock market by keeping track of the daily activity.
Disclaimer:
THEOTCM electronically disseminates information (the "Information") on its websites,in newsletters, featured reports, spam compliant double-opt in email communications or otherwise pertaining to Featured Stocks' (the "Issuer" or "Issuers" or "Featured Stock" or "Featured Stocks"), the securities of which are most frequently common stock shares quoted on the Over the Counter Bulletin Board ("OTCBB") or Pink Sheets. The Information is based on publicly available information, such as quarterly (with unaudited financial statements) and annual reports (with audited financial statements) filed with the Securities and Exchange Commission ("SEC"), quarterly and annual unaudited financial reports and Information and Disclosure Statements filed with the Pink Sheets, the Issuer's website and information obtained through search engines such as Yahoo Finance, Market Watch, PRnewswire,
StockHouse, StockWatch, OTCmarket and Business Wire. We synthesize the Information from these informational sources for our Readers as a starting point for furtherinquiry into the Issuer and its securities.
THEOTCM is not a registered investment advisor or registered securities broker dealer and the Information should not be construed in any manner, shape or form as investment advice, investment recommendations or opinions or viewpoints regarding the Profiled Company or its securities or as a solicitation to offer, purchase or sell the Profiled Company's securities.THEOTCM does not endorse, independently verify or assert the truthfulness,completeness, accuracy or reliability of the Information and conducts no due diligence whatsoever of the Profiled Companies. Because the Information is presented on an "as is" basis, your use of the Information is at your own risk. THEOTCM disclaims, expressly and impliedly, all warranties of any kind, including those of merchantability and fitness for a particular purpose or whether the Information is accurate or reliable or free of errors. The Reader hereby indemnifies THEOTCM from any liability for any claimed direct, indirect, incidental, punitive, or conequential damages pertaining to the disseminated Information.
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