The Bailout Bailout

Just when you thought you'd read everything. Several governors in the South are refusing some or all of the Federal bailout money. They're about to be in distinguished company.

Financial institutions that are getting government bailout funds have been told to put off evictions and modify mortgages for distressed homeowners. They must let shareholders vote on executive pay packages. They must slash dividends, cancel employee training and morale-building exercises, and withdraw job offers to foreign citizens...

As public outrage swells over the rapidly growing cost of bailing out financial institutions, the Obama administration and lawmakers are attaching more and more strings...

Some bankers say the conditions have become so onerous that they want to return the bailout money...

This story is a real heartbreaker. Free registration to The New York Times may be required to join the funeral frenzy. Hurry before it goes under.
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