The problem with favors is that they’re bound to be returned. Take the TARP for example. Government doles out huge amounts of funding for struggling corporate America. In return, the government pretty much gains control over corporate policies. Not that it’s a bad thing.

With the AIG bonus scandal enraging the taxpayers, practically every group that got funding from TARP is closely monitored. Too bad the suits don’t like it. Who doesn’t want complete control and million dollar bonuses?

Three major financial institutions are now moving closer to that independence. Morgan Stanley, JPMorgan Chase and Co. and American Express have all made strides in paying back what they owe the government by offering new stocks.

The stock offers disclosed late Monday and Tuesday are a precondition for the financial companies to pay back loans received under the Troubled Asset Relief Program last fall. The Treasury Department is expected to announce next week the first group of banks that will be allowed to repay the money.

Source: MSNBC

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