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John Lounsbury
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John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
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John B Lounsbury CFP
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Global Economic Intersection
  • 46 TARP Recipients Not Making Payments 1 comment
    Nov 16, 2009 10:57 AM | about stocks: C, CIT, AIG
    There are 46 TARP beneficiaries that have failed to make required dividend payments to the government as of the end of September.  Two of these, CIT Group (NYSE:CIT) and United Commercial Bank of San Francisco, have already failed.  There is a significant probability that many of the remaining 44 will also fail, although some may survive.

    This problem is described in an article by Tomoeh Muakami Tse in The Washington Post (here).  The article does not mention the other 44 firms and a quick search has not produced any leads.  So much for transparency.

    The two firms failing are the first failures among TARP recipients, if you ignore the fact that Citigroup (NYSE:C) and AIG would have failed without substantial government ownership.
    Themes: TARP Stocks: C, CIT, AIG
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  • doubleguns
    , contributor
    Comments (7891) | Send Message
     
    The only thing transparent in Washington is the hot air floating around.

     

    I think its methane.

     

    Something stinks.
    16 Nov 2009, 01:44 PM Reply Like
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