Friday, March 27, 2009

Quick Notes for the Day - March 27

First, continuing with yesterday's topic of paying back the TARP quick, I completely omitted that fact that Goldman Sachs has announced that it may repay the $10 billion it received as early as April. Also, Minneapolis Fed President Gary Stern said yesterday that the US recession could be over by mid-year. Some interesting news items to ponder indeed.

Goldman Eyes $10bn Tarp Exit - By Saskia Scholtes and Greg Farrell - Financial Times - "Goldman said it plans to pay back $10bn it received from the scheme as early as late April after the US Treasury completes the first round of its “stress tests” designed to separate strong banks from the weak. Goldman’s decision comes as a handful of smaller banks have signalled plans to pay back the government’s money, citing concerns over changes in the terms of the programme and compensation restrictions associated with the funds."

U.S. Recession Could End at Mid-Year: Fed's Stern - By Ros Krasny - Reuters - "The U.S. recession could end around mid-year, giving way to a subdued recovery before 'healthy' growth kicks in from mid-2010, Gary Stern, Minneapolis Fed President, said on Thursday. 'I am guardedly optimistic that many pieces are now in place to contribute to improvement in financial market conditions and in business activity,' Stern said. 'There is reason to think that improvement is not too far off.'"

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