Propublica:
There has been ample grumbling from bankers who took the Treasury Department’s money. Now, it seems we have our first bank to actually follow through and return the money.
The Treasury bought $90 million worth of preferred stock in IberiaBank, based in Lafayette, Louisiana, on Dec. 5. Yesterday, the bank announced it has given the Treasury notice that the money is coming right back. The reason, says the bank’s CEO in a press release: "We believe recent actions, interpretations, and commentary regarding various aspects of the program places our Company at an unacceptable competitive disadvantage."
1 comment:
Many Banks are scared to accept the bailout money because Tim will be combing in the books and might find their banks have been cheating and stealing.
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