From Fazle Rashid

NEW YORK, April 29: The American banks which have been beneficiaries of billions of dollars from government's bailout programme have become rebellious. They want to break loose from government control. The move is not against growing regulations but against Congressional taps on executive's hefty pay packets and perks

Lenders ( banks ) that skirted disaster only months ago with the help of tax payer's dollars are now balking at government prescriptions, the New York Times in a report said today. Banks are becoming increasingly eager to extricate themselves from the grasp of the government.

President Obama marked the 100th day of his presidency today with his public rating reaching sky high even though he confronts the severest economic downturn in past 50 years. His task has further been complicated with "swine flu" threatening to break out in a pandemic form.

Banks resistance will make it difficult for the government to solve the thorniest problems of the financial crisis. The banks are resisting government plan to cleanse them of toxic assets. Banks are not keen on helping troubled automakers or any other troubled areas of economy. Banks are not willing to sell their nonperforming loans. Such an act will be seen as a sign "weak bank"

The White House faces another tricky problem. Frugality could be expensive. This question needs to answered. Obama White House has cancelled the procurement of new helicopters ordered by President Bush as a cost saving device. Analysts said that " his (Obama's) efforts to avoid wasting trillions of dollars could end up doing just that", NYT said.

Government's move to stop $13 billion helicopter programme will leave government with little explanation for $3.2 billion it has spent to create a helicopter that could fend off terrorist attack and resist electromagnetic effects of a nuclear blast , the same paper reported.

The government is being blamed for pennywise pound foolish. The government in any case will have to spend $200 million to terminate the contract for the new helicopters and "perhaps hundreds of millions to extend the life of today's ageing fleet. Everyone wants to protect the president but we are not going to pay $500 million for single helicopter," said John Murtha chairman of the House defence appropriation sub-committee. The analysts said the first batch of five helicopters out of 23 should have been accepted.