Saxon to pay back TARP money

FO in Texas said: “Breaking News!

Morgan Stanley has filed its application to repay moneys it received from the TARP Program!

By STEVENSON JACOBS

updated 5:33 p.m. CT, Mon., May 18, 2009
NEW YORK – Goldman Sachs and Morgan Stanley have formally asked the Federal Reserve for permission to repay a combined $20 billion in federal bailout money.

The requests are pending, and no decision has been made on whether the investment banks will get approval to repay the money and sever ties with the Troubled Asset Relief Program, according to two people familiar with the matter.

They spoke on condition of anonymity because the banks’ discussions with the Fed are ongoing.

THIS MEANS NO MORE LOAN WORKOUTS UNDER THE OBAMA PLAN! IT WILL BE BUSINESS AS USUAL AND THEY WILL NOT HAVE ANY REASON TO WORK WITH MORTGAGE HOLDERS.”

http://www.msnbc.msn.com/id/30813522/