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Business Daily: Who's the boss?

22/07/2009

Who's the boss?

BBC World Service - Business Daily, Who's the boss?

Who's the boss - the tax-payers or the bankers?

We're starting to look for the exits. The banks want to get the tax-payers out of their businesses - though they quite like the money the tax-payers generously provided to stop them going bankrupt.

The immediate question now is how the banks will cut the strings that came with the Troubled Asset Relief Programme.  Under TARP, they got the money and the government got some control.  

The banks are now paying back the tax-payer to get back control over their own affairs - which begs the question price?  The lower the price, the better for the banks but the worse for the tax-payer.  

Listen to Dr Linus Wilson of the University of Louisiana at Lafayette, who says the negotiated price is too low.

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