Goldman Sachs, Morgan Stanley apply to repay TARP funds
Goldman Sachs and Morgan Stanley have officially joined the growing ranks of financial institutions that have applied to repay billions of dollars of borrowed TARP funds. Threats of tightening restrictions, including limitations on executive compensation, on those banks that accepted federal funds, have apparently created a strong incentive to repay the money as quickly as possible.
It is gratifying to know that private industry in this country will resist attempts by the federal government to take control of their day to day operations. No doubt, what is happening with our auto industry signals the intentions of the government more plainly than any empty rhetoric ever could.
