Some banks to return Bailout Money, as Govt. seeks too much control.

From the International Herald Tribune: http://www.iht.com/articles/2009/03/10/business/banks.php?page=1

By keeping weak banks operating, the markets continue to sink and taxpayer costs are mounting, outside experts said.

Experts say that the financial assistance, while helpful in the short run, could require weak banks to engage in lending practices that will lose them even more money, and that the government inevitably will become more heavily involved in dictating how banks do their business.

Some bankers say the conditions have become so onerous that they want to give the bailout money back. Financial institutions that are getting government bailout funds have been told to put off evictions and modify mortgages for distressed homeowners, let shareholders vote on exec pay packages, lower dividends, cancel employee training and morale-boosting exercises, and withdraw job offers to foreign citizens.