Business

HEADLINES:

US banks vie to pay back bailout funds

09.06.09

A two-tier banking system of winners and losers looked set to emerge in the US today as the Obama administration prepared to decide which banks can pay back billions of dollars of bailout funds.

JPMorgan, Goldman Sachs and American Express are expected to be allowed to repay taxpayers, freeing them from rules capping executive pay. Citigroup and Bank of America look set to remain tied.

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