Saw these 3 comments in Just One Minute - does not bode well IMNSHO

OT

TARP raises its ugly head

More than 90 U.S. banks and thrifts missed making a May 17 payment to the U.S. government under its main bank bailout program, signaling a rising number of lenders are struggling to meet their obligations.

Posted by: gmax | June 17, 2010 at 12:15 PM

OT

And this for a kicker ( more like a kick in the head)

In some cases, small banks are renegotiating the repayment terms. Midwest Banc Holdings [MBHI 0.0198 -0.0002 (-1%) ], for example, agreed to swap $84.8 million in preferred shares issued under the TARP program in 2008 for $15.5 million in common shares. That would have meant an 80 percent loss for the government—and the U.S. taxpayer—on the initial investment. But the swap was contingent on the bank raising more private capital, which it failed to do. Regulators seized the bank in May.

So Geithner is quietly doing write offs of TARP equity if he can push it off into the future? Where do we get these guys?

Posted by: gmax | June 17, 2010 at 12:19 PM

OT again

Counterparty risk?

Bank of America told its traders not to enter into trades with BP past June 2011.

This is what ultimately drove Lehman Bros to fail. 

Posted by: gmax