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04-06-2009, 09:11 PM
They were talking about this article from the Wall Street Journal on the radio today,
"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."
"Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can't a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can't special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit -- until now."
http://online.wsj.com/article/SB123879833094588163.html
"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."
"Think about it: If Rick Wagoner can be fired and compact cars can be mandated, why can't a bank with a vault full of TARP money be told where to lend? And since politics drives this administration, why can't special loans and terms be offered to favored constituents, favored industries, or even favored regions? Our prosperity has never been based on the political allocation of credit -- until now."
http://online.wsj.com/article/SB123879833094588163.html
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irateSho
04-07-2009, 09:29 PM
DevilsWin Wrote:No he doesn't. Thanks for asking.
I think Barry does want to control the banks, if he didn't he would more than gladly take the money back with interest and use it somewhere else where its' needed.....say maybe to the missile defense system! By not accepting the repayment, he is simply controling the banks and their managment.
04-07-2009, 09:49 PM
Well Government in his party is supposed to controle EVERYTHING
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