Frank Pushes Obama Administration To Allow TARP Repayment

According to reports from FT.com, Barney Frank, Chairman of the Financial Services Committee, said Goldman Sachs (NYSE: GS) and JPMorgan (NYSE: JPM) should be allowed to repay TARP.

Mr Frank told the FT "some people are taller than other people. Of course there are different levels of strength between the banks... compensation restrictions were a necessity to win support for Tarp. Frank was referring to the argument that Goldman and JPMorgan would have an unfair advantage over other banks by repaying the TARP.

Frank said the Obama administration was missing a political chance to showcase the return of taxpayer money.

Stress test results are being given to the banks today and will be made public on May 4th. Goldman has said publicly that they wish to payback the TARP after the results are in.

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