Tarp article

[RodISHI]

Well worth reading and I really like the way this guy handled the issues that have had to be dealt with.

You're in pain and you have to decide: Does it hurt more to come in or stay out?" Mr. Lambright said, according to those people.

Government officials agreed that they needed to impose restrictions, and in the end, pay limits were set.

As December drew to a close, Mr. Lambright's team had $48 billion worth of deals to finalize, including the $20 billion for Citigroup, $4 billion for General Motors Corp. and $15 billion of capital injections into various banks.

Many of the companies wanted their money in hand before the end of the year. On New Year's Eve, Mr. Lambright was fielding one phone call after another, including the tense call with Mr. Crittenden of Citigroup. Before Treasury could wire the $20 billion to Citigroup, it needed waivers from about 50 executives allowing the government to curb their pay. The Treasury had been requesting the documents for about two weeks, but several were still missing.

"This is good news," Mr. Lambright told Mr. Crittenden, according to several accounts of the call. "This tells me you don't really need the money. Let's talk next year." The waivers arrived within hours......Treasury's James Lambright, TARP Investment Chief, Is a Tough Negotiator - WSJ.com