Banks not allowed to repay TARP money - Obama wants to maintain control
Fast forward to today, and that same bank is begging to give the money back. The chairman offers to write a check, now, with interest. He’s been sitting on the cash for months and has felt the dead hand of government threatening to run his business and dictate pay scales. He sees the writing on the wall and he wants out. But the Obama team says no, since unlike the smaller banks that gave their TARP money back, this bank is far more prominent. The bank has also been threatened with “adverse” consequences if its chairman persists. That’s politics talking, not economics.
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davidkendall reblogged this from iambal
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freddahead reblogged this from billda and added:
a lot since O took over, but… I am Jack’s complete lack of surprise.
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iambal reblogged this from billda and added:
too many people are ignoring/sweeping under
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billda posted this
