>First Line News – Business –
Monday, April 20, 2009
Federal Banking Takeover Unlikely
Some big banks will need more bailout bucks, Obama administration officials said Sunday, although it is unlikely the government might need to take over any reeling institution.
U.S. to Put Conditions on TARP Repayment
Strong banks will be allowed to repay federal bailout funds, but only if such a move passes a test to determine whether it is in the national economic interest, the Financial Times reported on Sunday, citing a senior U.S. administration official.
U.S. May Turn Its Loans to Banks Into Stock
White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they expected, simply by converting the government’s existing loans to the nation’s 19 biggest banks into common stock.
Economy Shows Flickers of Strength
Recent data has provided faint hope of a comeback. Even so, high unemployment would stretch well into 2010.