I find myself not too happy with Senator Tom Harkin (D-IA) today. It appears that on Wednesday he went on to the liberal talk radio show of Bill Press and said?
BILL PRESS:? Alright, well good for you. You know, we gotta work on that, because they are just shutting down progressive talk from one city after another. All we want is, you know, some balance on the airwaves, that’s all. You know, we’re not going to take any of the conservative voices off the airwaves, but just make sure that there are a few progressives and liberals out there, right?
SENATOR TOM HARKIN (D-IA): Exactly, and that’s why we need the fair — that’s why we need the Fairness Doctrine back.
Yesterday the Treasury announced that it would let 10 of the largest TARP recipient banks to start paying back as much as $68 Billion of the $200 Billion that was given out. While this is definitely a good sign we are not yet in the clear.
While the collapse of the U.S. banking system is no longer seen as an imminent danger, access to the capital markets remains difficult and bank balance sheets are clogged with troubled loans and other assets. Most of the nation’s 8,000 banks are being hammered by the recession, and the number of bank failures is expected to climb. The 10 banks seeking to return government money will be able to continue leaning on the U.S. government in other ways, including by issuing debt guaranteed by the Federal Deposit Insurance Corp.