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Geithner, Summers and TARP

David RugglesbyDavid Ruggles
January 19, 2009
in Archive
Reading Time: 1 min read
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Bloomberg reported on Jan 14 that Goldman Sachs Japan plans to take complete control of Universal Studios Japan by March 31 (it currently owns 41 percent).

But Larry Summers was quoted on Sunday talk shows saying the following about the use
of TARP funds: “What’s not going to happen is the funds that could be supporting increased lending are going to be used to finance acquisitions that may serve a bank but don’t serve the country,” Summers said. The new administration will also prevent banks that accept government funds from pursuing acquisitions to the detriment of increasing lending, he said.
(Source: Bloomberg)

What is the likelihood of this takeover in Japan happening, or for any foreign activity by US banks that have received TARP money? Does anyone really think Goldman and Citi and Morgan Stanley will run their deals in foreign countries by Summers and Geithner first?

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