Biz, U.S.: Shaking off TARP: Big banking firms raise stock to pay off U.S.
- why now? Two reasons why: Investors appear to be buying stocks at the moment, and they want the monkey off their backs. TARP regulations force companies to limit executive pay, which they don’t like.
- the firms U.S. Bancorp, Capital One Financial Corp., KeyCorp, Principal Financial Group Inc. and BB&T Corp. all announced plans this morning to raise $7 billion in capital to get the U.S. off their backs. source