Sunday, January 11, 2009

Local Banks and TARP

The Muncie Star Press gives us a look in Area banks among those receiving federal funds:
"MUNCIE -- With $250 billion up for grabs, Indiana banks might be expected to be eager for a piece of the federal bailout pie."

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Indiana's banks -- which for the most part were not hit hard by financial failures like the subprime mortgage crisis -- are typical of those monetarily healthy banks applying for TARP funds. Those banks became eligible after the government created a category -- the Capital Purchase Program -- for banks not in danger of failing.

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