In a New York Times article dated April 11, 2009, the Obama administration has the nation’s largest banks scared about the repayment of bailout money. On Friday, Obama announced that we are starting to see “glimmers of hope across the economy.” Banks in better shape want to get their dept repaid quickly. The new administration wants weaker banks to move quickly to get rid of bad assets. But these banks don’t want to take a big loss.
As the bailout money is dwindling, tensions are rising between banks and the Obama administration. Senator Charles E. Schumer of New York stated that “between now and Memorial Day we’re going to know a whole lot more about the degree of trouble the banks are in.”
I feel that the banks should be scared at this time. They were giving loans to people that they should not have been. Now is the time to pay the price. The banks that got bailout money should be getting ready to pay up.
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I agree! It seems like anyone could get a loan and everyone is taking advantage of this country falling into a depression. It also seems like all the major companies, such as GM, Ford etc. are holding their hands out waiting for money that we as a country just don't have to give. Instead of saying NO, Obama and the government just keeps handing it out. If we are going to spend billions to bail out these bigger companies, where is the little peoples bail out money???
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