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They weren't at risk of failing when TARP passed. If TARP hadn't passed, and a few of their counterparties had gone bankrupt, they might have been next as the w
by ProjectArcturis 4y ago
They weren't at risk of failing when TARP passed. If TARP hadn't passed, and a few of their counterparties had gone bankrupt, they might have been next as the whole system went under.
- jeremyjh 4y agoYes and that is why they did what the Treasury told them to. It was directly in their shareholder's interests to support the recovery of the banking industry. Ken Lewis still lost his job for doing it.