Today more good news came out of the financial sectors. Testifying before Congress CEO John Mack of Morgan Stanley gave a very well thought out opening statement. You can read more and hear his entire statement HERE. One of the most encouraging parts of his statement demonstrates that at least two huge financial institutions are actively wanting to repay the TARP funds they had previously accepted. Morgan Stanley along with Goldman Sachs have both publicly stated that not only do they want to repay the TARP money, they have no intention of going back to the well for more bailout money. You can read the article on the Goldman Sachs announcement HERE. Joining in the pledge to not seek future government money is Bank of America who also rejected any notion of becoming nationalized. These can only be taken as positive signs.
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