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Goldman Sachs CFO seeks to repay TARP funds
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| Parent(s) |
Issue
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| Contributor | Servo |
| Last Edited | Servo Feb 05, 2009 01:29pm |
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| Category | News |
| News Date | Thursday, February 5, 2009 07:00:00 PM UTC0:0 |
| Description | Goldman Sachs Group Inc (GS.N)
Chief Financial Officer David Viniar said the bank is keen to
avoid restrictions it agreed to after receiving funds from the
U.S. government late last year and it is looking to pay the
money back as soon as possible.
The investment bank, which received a $10 billion capital
injection from the U.S. Treasury's Troubled Asset Relief Program
in October, is not happy with the strings that came attached to
the money.
Compensation restrictions and certain capital requirements
were part of the original injection, and extra limitations may
be in store after U.S. President Barack Obama imposed tough new
rules limiting pay for companies receiving government aid.
"We would like to get out from under that," Viniar said,
adding that the bank aims to pay back the $10 billion this
year. |
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