Freedom of expensive
The day of the final payment came for ten American banks: paying 68 billion U.S. dollars, they gained freedom. Thus, returning the dept of the government financial help within the program of TARP (Troubled Asset Relief Program), these banks are again out of the United States Government control. However, there is much less pleasant news for the financial industry: the ratings of 18 U.S. banks have dropped. Experts predict tough times also for the European banks.
The U.S. government implemented payments through TARP program after the bankrupt of Lehman Brothers shocked the financial markets last fall. 125 billion U.S. dollars were allocated in order to help major banks, which had to be sufficient during the current economic crisis.