Goldman wants to repay bailout money this year

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February 5, 2009 04:20

 
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Goldman Sachs Group Inc.'s chief financial officer said Wednesday the bank would like to pay back the $10 billion in financial rescue funds it received from the Treasury Department some time this year. Goldman Sachs received the investment last fall as part of the government's bailout program intended to encourage lending between banks and to consumers. Under the agreement, companies that receive funds through the program can repay the government with money raised from sales of new stock. Goldman's CFO David Viniar was quoted by media outlets as saying at an investor conference Wednesday that the bank would consider raising capital this year to pay back the investment. Company spokesman Ed Canaday confirmed that Viniar made the remarks.

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