Interested in which banks owe the most?
TARPA stimulus loans remain the source of hot debate all across America today. In 2008, the government’s decision to provide bailout loans to banks was suggested as a way to repair the struggling economy. The idea was that the money would temporarily rescue the biggest financial players, ensuring that the economy didn’t tank further. Far from free money or a grant of any kind, it was to be paid back within a set period of time.
The problem with this concept? Many banks still haven’t managed to pay off their loans seven years after they were originally granted. The result is nearly $225 billion dollars is still owed. What that means is that the economy may have been temporarily boosted, but recovery is taking longer than expected.
The majority of banks that still haven’t paid back stimulus loans are small. While they may not impact the national economy on the same scale as large banks, like the Bank of America, they still have an enormous amount of sway compared to the average business. Ensuring that this money is paid back in a timely manner is important–after all, no taxpayer wants to foot the bill for a company who isn’t able to pay the loan back. In this list, you’ll learn about 10 banks that currently carry the highest balances for stimulus loans.