Obama allows TARP repayment

Discussion in 'Politics' started by Peejay, Apr 6, 2009.

  1. Peejay
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    Peejay BANNED

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    The other topics posted on this have misleading titles. To set the record straight, let's make it clear that the Bush TARP plan explicitly denied banks the opportunity to repy the funds early. The Bush TARP plan explicitly said 3 years before banks could repay these funds.

    The Obama stimulus package explicitly provided the opportunity to repay TARP funds early, reversing the Bush requirements.

    To date, six banks have asked to return their TARP money and five of them have already returned the money.

    4 Banks Become First to Repay TARP Money - DealBook Blog - NYTimes.com

    Signature Bank of New York

    Old National Bancorp of Evansville, Ind.

    Iberiabank of Lafayette, La.

    Bank of Marin Bancorp of Novato, Calif.

    Sun Bancorp, parent of Sun National Bank

    Treasury allowing Sun Bancorp to return TARP funds - Philadelphia Business Journal:


    Only one bank that has applied to return TARP monay has yet to return the money.


    Let's say thanks to the Obama administration for allowing these Banks to return our tax dollars, forced onto them by the Bush administration.

    Nicely done.
     
  2. Ravi
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    Ravi Diamond Member

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    How funny is that, it actually was Bush's fault.
     
  3. Skull Pilot
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    Skull Pilot Platinum Member

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    small insignificant banks.

    large banks with bigger market share will not be treated the same. In fact the so called stress test for banks is not a test at all but a subjective set of criteria that changes at the whim of the government.

    And what about those banks that were forced to sell stock to the government? Remember these banks stock was bought with TARP money, it was not a loan. Do you think the government will simply sell their control of the nine biggest banks in the country back?
     
  4. Peejay
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    Peejay BANNED

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    See Sun Bankcorp.

    They were allowed to repurchase the prefered stock bought through TARP.

    YOu are a scared to death, typical partisan. NO ONE has been deinied to repay funds or to repurchase stock.

    Go tell the other chickens about the sky falling. Not interested here.
     
  5. Skull Pilot
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    Skull Pilot Platinum Member

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    I'm no partisan. The forcing of banks to sell stock to the government was nothing short of unconstitutional. That is the problem that you don't seem to understand.

    Now the government is firing employees of private companies, threatening to do the same with banks and it's all OK with you.

    This was one of the most egregious misuses of government power and you, like the rest of the fucking sheep, don't care.
     
  6. Peejay
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    Peejay BANNED

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    Oh I care. I didn't support any of the bailouts. Bush or Obama.

    But I know who has given Banks the option to give this money back and walk away.

    I also knwo that if GM wanted to keep their CEO, they could have. They just had to make it without a hand out. Nobody fired the guy. He resigned so the Co. could get some of our tax dollars.

    In any case, let's stick to the subject. Show us where a SINGLE bank has been denied the chance to give the money back that Bush forced them to take.

    Got anything ? I thought not.
     
  7. xsited1
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    xsited1 Agent P

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    Considering that Obama allowed the money to be spent in the first place, I'm not too impressed. It's like a thief who steals all your property and then gives you your couch back. Is that supposed to make me feel better? The guy is still a thief.
     
  8. Skull Pilot
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    let's wait until the government imposes its stress test on Goldman.



    Goldman to repay TARP pending test, U.S. blessing - Forbes.com
    we'll see if the big banks are allowed to repay or not unlike the little insignificant banks that you deem so important.
     
  9. Peejay
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    Peejay BANNED

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    You're a lying sack of shit.

    This money was handed out by George Bush.
     
  10. Peejay
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    Yes, we will.

    Unfortunately, as noted in your article, last fall's TARP regulations may get in the way. Luckily, they have the stimulus bill that at least gives them the opportunity that they didn't have before.

    You understand that they couldn't repay early, at all, under the Bush plan?
     

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