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Even chief financial officers at public companies are concerned that TARP funds will be used for something other than stabilizing the economy.

A poll of CFOs conducted by CFO.com found that top financial officers are skeptical about how the funds will be used:
  • 40% said that too much of the bailout funds will flow into the pockets of executives.
  • 58% think that too much of the money will be used to finance acquisitions.
  • 48% think that banks will use a larger than necessary chunk of the money to strengthen their reserves instead of lending it out.
When CFOs are questioning the bailout just as much as Average Joe's, it's time for the federal government to rethink what it's doing. The New York Times reports that the first Government Accountability Office report on the implementation of the $700 billion bailout is "expected to be critical of the Treasury Department's failure to set up ways to track how its bailout money is being used in the marketplace."

Add the lack of oversight to the fact that the dispersal of being funds is being managed by a former CEO of Goldman Sachs (NYSE: GS) and others with strong ties to Wall Street, and it's amazing that there hasn't been even more outrage than there is.

CFOs bearish on the bailout originally appeared on BloggingStocks on Wed, 26 Nov 2008 15:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BailoutCFO.comChief Financial officersChiefFinancialOfficersinthenewsTARPWed, 26 Nov 2008 15:05:00 EST<![CDATA[CFO optimism plunges on U.S. recession fears, survey shows]]>http://www.bloggingstocks.com/2008/01/30/cfo-optimism-plunges-on-u-s-recession-fears-survey-shows/http://www.bloggingstocks.com/2008/01/30/cfo-optimism-plunges-on-u-s-recession-fears-survey-shows/http://www.bloggingstocks.com/2008/01/30/cfo-optimism-plunges-on-u-s-recession-fears-survey-shows/#commentsFiled under: , ,

The nation's CFOs are becoming increasingly concerned that the United States economy will fall into a recession, a quarterly survey indicated Wednesday.

The quarterly survey by Financial Executives International and Baruch College indicated that its optimism index for Q4 2007 dropped to 52.26 from 62.95 in Q3 2007, with almost every chief financial officer polled saying they were as concerned/or more concerned about a recession than they were in the previous quarter. The two organizations announced their results, that included the above, in this statement.

In addition, the CFOs' outlook toward their own companies decreased again this quarter, as the Optimism Index of CFOs' own companies fell to 70.26, from last quarter's 71.68, which itself was a three-year low.

Continue reading CFO optimism plunges on U.S. recession fears, survey shows

CFO optimism plunges on U.S. recession fears, survey shows originally appeared on BloggingStocks on Wed, 30 Jan 2008 18:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Baruch CollegeCFOchief financial officersconsumer spendingFinancial Executives InternationalGDPrecessionU.S. Commerce DepartmentU.S. economyWed, 30 Jan 2008 18:45:00 EST