DODD STATEMENT ON CITIBANK REPAYING TARP FUNDS

WASHINGTON – Today, Chris Dodd (D-CT), Chairman of the Senate Banking Committee, issued the following statement on the announcement that Citibank would repay $20 billion in TARP funds.

 

“We provided this assistance to avert an economic collapse.  It worked, and today’s announcement by Citibank is another sign that things are turning around on Wall Street,” said Dodd.  “But it is little consolation to taxpayers that Citi’s stock is up 20% when they face unemployment rates of over 10%.   Now that companies are returning this money, we should direct it towards helping small businesses expand and create jobs.”

 

Last week Chairman Dodd unveiled his comprehensive jobs agenda, which includes the use of some returned TARP funds to support programs aimed at helping small businesses operate and expand, and enabling them to start creating new jobs almost immediately.

 

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