Frank urges Obama to accept Tarp repayments

View an online version of this email here.  All times are London time: Friday Apr 24 2009 Breaking news Frank urges Obama to accept Tarp repayments The Obama administration should seize the political opportunity offered by Goldman Sachs' and JPMorgan's request to repay $45bn in troubled asset relief funds, says Barney Frank, the influential Democratic lawmaker. Both banks are lobbying Tim Geithner, the US Treasury Secretary, and the Federal Reserve, for permission to repay the money in order to escape the tight restrictions on executive compensation that Capitol Hill imposed on Tarp recipients. But Mr Geithner, who will next week release the results of the "stress tests" on the nation's largest 19 banks, has shown reluctance to differentiate between the banks. In an interview with the FT, Mr Frank said the Obama administration was missing a political chance to showcase the return of taxpayer money. Read more » ABOUT THIS EMAIL You have received this email because you have signed up for this briefing on FT.com Manage subscriptions | Unsubscribe | Change your email address Change whether you receive this email as HTML or plain text | Forward this email to a friend Privacy policy | Advertise | Contact © Copyright The Financial Times Ltd 2009. "FT" and "Financial Times" are trademarks of the Financial Times. The Financial Times Limited, registered in England and Wales number 227590. Registered office: Number One Southwark Bridge, London SE1 9HL. VAT number GB 278 5371 21.