WillowTree
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March 26 2009
Suddenly, TARP money looks bad; Update: Congress gets a clue
For relatively strong banks, doing business with the government may be more trouble than its worth.
Banks are publicly declaring their intent to pay back loans from the Troubled Asset Relief Program, or TARP, as quickly as they can. They range from Charlotte-based Bank of America Corp., which is the countrys biggest bank, to tiny Iberiabank Corp. in Lafayette, La.
The banks complain about the rules that the U.S. Treasury keeps imposing on them retroactively, sometimes in ways that seem arbitrary or driven by constituents anger.
Some say they never needed the money but were cajoled into taking it by the Treasury, which wanted a show of industry support for its program.
Hot Air » Blog Archive » Suddenly, TARP money looks … bad; Update: Congress gets a clue
Suddenly, TARP money looks bad; Update: Congress gets a clue
For relatively strong banks, doing business with the government may be more trouble than its worth.
Banks are publicly declaring their intent to pay back loans from the Troubled Asset Relief Program, or TARP, as quickly as they can. They range from Charlotte-based Bank of America Corp., which is the countrys biggest bank, to tiny Iberiabank Corp. in Lafayette, La.
The banks complain about the rules that the U.S. Treasury keeps imposing on them retroactively, sometimes in ways that seem arbitrary or driven by constituents anger.
Some say they never needed the money but were cajoled into taking it by the Treasury, which wanted a show of industry support for its program.
Hot Air » Blog Archive » Suddenly, TARP money looks … bad; Update: Congress gets a clue
