Arizona: Allianz\

May 10, 2009 - 05:51 pm
NEWS FEED: Blog for Arizona

Senator Kyl shows some love for his bank CEO buddies

Posted by AzBlueMeanie:

"Senator Obstruction," Jon Kyl, issued a warning to the Obama administration on Bloomberg Television's "Political Capital with Al Hunt," warning not to remove the chief executive officers at banks that have received U.S. assistance, saying "the great fear" would be government management of companies. Kyl: Removing bank CEOs is a bad idea

"If you think that Washington can run car companies and banks and so on, well, then you've not been paying attention to how we've been doing back here," Kyl said of the Treasury's threat of management changes at banks getting "exceptional" aid.

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While a financial review showed most banks don't require new assistance from the Treasury, "the government appears to still have control over the major banks to the extent of saying they've got to raise capital.