govt won't accept tarp payback....

[Annie]

You are wound a bit tight, no? What was TARP for? Does Obama now think the purpose was wrong? If so, they should be arguing with the banks to speed up repayments. How much money would that return to Treasury and FDIC? That would suit me fine. The idea was wrong, I agree with Obama if that's now his take.

 

[Peejay]

You are wound a bit tight, no? What was TARP for? Does Obama now think the purpose was wrong? If so, they should be arguing with the banks to speed up repayments. How much money would that return to Treasury and FDIC? That would suit me fine. The idea was wrong, I agree with Obama if that's now his take.

I honestly don't know what the take is. I don't think it should have ever been handed out to begin with, any of the bailout, Bush or Obama. But the fact is, this money was beyond the possibilty of being given back early until the Obama plan. The Obama plan at least made allowance for early repayment, which we did not have before. That is an improvement.

Considering this, this whole topic is a damned joke. Whining about banks being refused when: A) It has not happened. B) They were completely excluded from the possibilty before and C) It is only the Obama plan that makes this even possible to be talking about anyone even trying to repay early.

It is the extreme of partisan spin.

 

[Gunny]

Many contracts are written to prevent pre-payment. To prepay my mortgage requires a $4 service fee for every early payment I send. They've essentially lent this money with the expectation that a certain amount will be repaid with interest. If they allow the strong companies to repay early, they lose all the interest and are left with only the bad banks defaulting and we the American People would be stuck with even more losses.

Was Tarp contracted in such a manner ?

I don't know, I'm only making the point that there shouldn't be some faux outrage as though this is something unusual. The same banks that are whining about not being allowed to pre-pay probably have written their own contracts with the same clause enforced on their own customers.

The US Government is NOT a bank. Banks don't get to force us to take loans and pay them back under their terms.

 

[Gunny]

government control and power is everything......


The money flowed to the bank. Arguably, back then, the Bush administration was acting for purely economic reasons. It wanted to recapitalize the banks to halt a financial panic.

If you can't see the obvious partisan slant here, you must be on the same train.

Bush forces money = Good

Obama doesn't take it back = Bad

Idoiotic.

Oh, the partisan slant is noted. You just got it backwards, is all.

 

[Gunny]

Was Tarp contracted in such a manner ?

I don't know, I'm only making the point that there shouldn't be some faux outrage as though this is something unusual. The same banks that are whining about not being allowed to pre-pay probably have written their own contracts with the same clause enforced on their own customers.

I bet you can prepay if you agree to pay the interest and penalties. You understand this is about the government controlling banks right ?

In case you missed it, there's some willful blindness going on here.

 

[Peejay]

Sure Gunny, the slant is backwards.

The money can be paid back early. It is being paid back early. There was no such option when the money was forced onto the banks.

We have banks that have already paid it back and not a single name of a single bank that has actually tried and been denied the chance to pay it back. Not a single one.

Yeah sure Gunny, sure thing.

 

[manu1959]

Sure Gunny, the slant is backwards.

The money can be paid back early. It is being paid back early. There was no such option when the money was forced onto the banks.

We have banks that have already paid it back and not a single name of a single bank that has actually tried and been denied the chance to pay it back. Not a single one.

Yeah sure Gunny, sure thing.

would you please clarify the posisition you are trying to take....

 

[manu1959]

Now, the Obama admin says you can repay early.

It's a great day to be an American !

then why can't they pay it back early.....see op....

 

[Peejay]

Now, the Obama admin says you can repay early.

It's a great day to be an American !

then why can't they pay it back early.....see op....

They can and have.

Nothing in the OP shows that any bank has been denied the opportunity to pay this money back early. They say they fear it may take TWO MONTHS.

You understand that it was THREE YEARS before the stimulus bill established the opportunity to pay it back ?

You let me know when one of those banks is actually denied the opportunity to pay it back. So far, hasn't happened. If it has, show me. So far, you got exactly squat.

 

[manu1959]

Now, the Obama admin says you can repay early.

It's a great day to be an American !

then why can't they pay it back early.....see op....

They can and have.

Nothing in the OP shows that any bank has been denied the opportunity to pay this money back early. They say they fear it may take TWO MONTHS.

You understand that it was THREE YEARS before the stimulus bill established the opportunity to pay it back ?

You let me know when one of those banks is actually denied the opportunity to pay it back. So far, hasn't happened. If it has, show me. So far, you got exactly squat.

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

 

[Peejay]

then why can't they pay it back early.....see op....

They can and have.

Nothing in the OP shows that any bank has been denied the opportunity to pay this money back early. They say they fear it may take TWO MONTHS.

You understand that it was THREE YEARS before the stimulus bill established the opportunity to pay it back ?

You let me know when one of those banks is actually denied the opportunity to pay it back. So far, hasn't happened. If it has, show me. So far, you got exactly squat.

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

Can you tell us who this bank is ? Can you cite where the actual request was made to pay this money back ?

What is this same bank ? Would they have been able to pay the money back under the Bush plan ? Who forced them to take this money to begin with ?

Like I said, you got exactly squat.

If they are allowed to pay that money back in anytime short of three years, you can say thanks to to the Obama administration for making that happen.