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Banks: Good News — and Bad Assets

Despite a comeback on Wall Street, the heaps of toxic debt aren't going anywhere. Be warned: Banking losses will be playing out for years
BusinessWeek
Original publication date: 
Thursday, June 11, 2009 - 00:00

Regulators, investors, and policymakers are breathing a sigh of relief about the banks. Profits are up. Bank share prices are surging. And on June 9 Uncle Sam gave 10 banks the go-ahead to pay back $70 billion in bailout funds. "These are early signs of repair and improvement," Treasury Secretary Timothy F. Geithner said in a press briefing.

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