Fox Business' Elizabeth MacDonald Reports That Treasury Could Appoint Board Members At Banks Missing Dividend TARP Payments

FOX Business Network’s (FBN) Elizabeth MacDonald is reporting TARP-funded banks that have missed dividend payments could face the Treasury appointing members of their boards of directors. Excerpts from the report can be found below, courtesy of Fox Business. Elizabeth MacDonald: “If these TARP bank bailout companies miss six dividend payments, then they will face Treasury-appointing from the private sector to the board of directors. We are seeing 105 banks are on the Treasury’s radar screen for a possible intervention here. They are certainly on the radar screen for missing a number of dividend payments.” “We don’t know how active those boards of directors would be. You see continuously this looping back of the interventions with TARP bailout money and relationships to Congress and now they’re not paying to the taxpayer the dividends the Treasury says they owe.”