NEW YORK (AP) - The government could announce today which of the
nation's largest banks will be able to repay the money from the
federal financial bailout.
Some banks have been eager to pay back the billions they've
received, because of the federal strings that come with it. Those
include caps on executive pay and restrictions on dividend
payments. The CEO of JPMorgan Chase called the money a "scarlet
letter," because of the public backlash and scrutiny that came
Those expected to be allowed to repay the funds include
JPMorgan, Goldman Sachs and American Express. Combined, analysts
say the repayments could exceed $50 billion from the $700 billion
Troubled Asset Relief Fund.
But some experts says the paybacks could create a two-tier
banking system, widening the gap between healthy and weak banks.
The latter include Citigroup and Bank of America.