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GEITHNER, HENSARLING ON BANK REPAYMENTS OF TARP FUNDS
REP. JEB HENSARLING: "If there are firms that wish to repay their taxpayer money, if the taxpayer money is at risk, if their relevant regulator certifies that commensurate with safety and soundness of the financial institution, they can return that capital, if this is an accurate assessment of your position, why wouldn't you take the money back?"
GEITHNER: "In those conditions, we would welcome it. It would be very helpful, it helps differentiate, it helps to show progress, it helps to underscore the basic point that the institutions of our financial system are in very different circumstances. But I just want to underscore what's really important...My basic obligation and our responsibility is to make sure that the system as a whole -- as a whole -- has the ability to provide the credit that recovery requires. And so we need to make a careful judgment about what policies are going to best promote that objective.
"Ultimately we have to look at two things -- one, do the institutions themselves have enough capital to be able to lend and the system as a whole, is it working for the American people for recovery, and that's the standard we're going to look at. But of course, nothing would make me happier..."
HENSARLING: "Just to understand you, there will be other considerations besides the individual institutions' financial stability?"
GEITHNER: "This is a judgment that I don't make. This is a judgment that the federal banking agencies make under the conditions established under the Recovery Act; they are in the process now of trying to make these judgments. The critical thing we care about is whether the system as a whole is in a position where it has the capacity to support the credit that recovery requires. That's the ultimate test."
GEITHNER, HENSARLING ON BANK REPAYMENTS OF TARP FUNDS
REP. JEB HENSARLING: "If there are firms that wish to repay their taxpayer money, if the taxpayer money is at risk, if their relevant regulator certifies that commensurate with safety and soundness of the financial institution, they can return that capital, if this is an accurate assessment of your position, why wouldn't you take the money back?"
GEITHNER: "In those conditions, we would welcome it. It would be very helpful, it helps differentiate, it helps to show progress, it helps to underscore the basic point that the institutions of our financial system are in very different circumstances. But I just want to underscore what's really important...My basic obligation and our responsibility is to make sure that the system as a whole -- as a whole -- has the ability to provide the credit that recovery requires. And so we need to make a careful judgment about what policies are going to best promote that objective.
"Ultimately we have to look at two things -- one, do the institutions themselves have enough capital to be able to lend and the system as a whole, is it working for the American people for recovery, and that's the standard we're going to look at. But of course, nothing would make me happier..."
HENSARLING: "Just to understand you, there will be other considerations besides the individual institutions' financial stability?"
GEITHNER: "This is a judgment that I don't make. This is a judgment that the federal banking agencies make under the conditions established under the Recovery Act; they are in the process now of trying to make these judgments. The critical thing we care about is whether the system as a whole is in a position where it has the capacity to support the credit that recovery requires. That's the ultimate test."
HIGHLIGHTS: Geithner testifies on TARP
Now, that sounds to me like he thinks it's the government's decision when the banks pay back TARP loans. Why can't the banks go ahead and pay them back right now?
Oh, that's right, if they pay it back, then the government can't tell them how to run their business. You know, simple things like how much to pay people, and who to loan money to.
GEITHNER, HENSARLING ON BANK REPAYMENTS OF TARP FUNDS
REP. JEB HENSARLING: "If there are firms that wish to repay their taxpayer money, if the taxpayer money is at risk, if their relevant regulator certifies that commensurate with safety and soundness of the financial institution, they can return that capital, if this is an accurate assessment of your position, why wouldn't you take the money back?"
GEITHNER: "In those conditions, we would welcome it. It would be very helpful, it helps differentiate, it helps to show progress, it helps to underscore the basic point that the institutions of our financial system are in very different circumstances. But I just want to underscore what's really important...My basic obligation and our responsibility is to make sure that the system as a whole -- as a whole -- has the ability to provide the credit that recovery requires. And so we need to make a careful judgment about what policies are going to best promote that objective.
"Ultimately we have to look at two things -- one, do the institutions themselves have enough capital to be able to lend and the system as a whole, is it working for the American people for recovery, and that's the standard we're going to look at. But of course, nothing would make me happier..."
HENSARLING: "Just to understand you, there will be other considerations besides the individual institutions' financial stability?"
GEITHNER: "This is a judgment that I don't make. This is a judgment that the federal banking agencies make under the conditions established under the Recovery Act; they are in the process now of trying to make these judgments. The critical thing we care about is whether the system as a whole is in a position where it has the capacity to support the credit that recovery requires. That's the ultimate test."
HIGHLIGHTS: Geithner testifies on TARP
Now, that sounds to me like he thinks it's the government's decision when the banks pay back TARP loans. Why can't the banks go ahead and pay them back right now?
Oh, that's right, if they pay it back, then the government can't tell them how to run their business. You know, simple things like how much to pay people, and who to loan money to.
Yep, if they pay it back 'we' can't get the common stock.
HIGHLIGHTS: Geithner testifies on TARP
Now, that sounds to me like he thinks it's the government's decision when the banks pay back TARP loans. Why can't the banks go ahead and pay them back right now?
Oh, that's right, if they pay it back, then the government can't tell them how to run their business. You know, simple things like how much to pay people, and who to loan money to.
Yep, if they pay it back 'we' can't get the common stock.
I'm sure that by "we", you mean the current federal administration.
There is nothing particularly earth-shakiing about this. Obama promised a big 'nanny-state' government when he was running for President. His Administration is only delivering on the campaign promises he made. Usually it's the Republicans that provide the last line of defense against these marxists, but they've been absent from American politics for a while.
Absolute, partisan bullshit.
NO BANK that has applied to return TARP money has not been allowed to do so.
TCF Financial, the bank that was whining last week about this, was approved and returned their TARP this week.
UPDATE 1-Minnesota bank TCF repays TARP, largest to do so | Markets | US Markets | Reuters
Partisan lies.
Name one bank that has not been allowed to pay their TARP back. Name one bank that has applied to do so and has been denied. You can't. I have shot down every dumb ass partisan thread making this bogus claim. It's a lie.
Everyone having applied to the Treasury to returh TARP money has been allowed to so so, thus far. Until you've got something, how about keeping this bullshit under your hat.
as of 04:02PM ET 4/22/2009
THE FINANCIAL CRISIS
U.S. to let some big banks repay bailouts early
Treasury Secretary Timothy F. Geithner, in defending the government's rescue efforts through the $700-billion TARP, says funds in the program will be sufficient to cover economic initiatives.
By Jim Puzzanghera
April 22, 2009
Reporting from Washington -- The Obama administration has indicated for the first time that it will let some big banks repay their bailout cash early, estimating that at least $25 billion will come back to the government in the next year.
With that money, and at least $110 billion remaining in the $700-billion financial rescue fund, the Obama administration will have enough to pay for its economic initiatives without further action by Congress, Treasury Secretary Timothy F. Geithner said Tuesday in remarks before a panel overseeing the bailout program.
Geithner disclosed the new numbers as he defended the administration's bailout efforts in his first appearance before the panel.
The Treasury secretary also lent some assurance to the stock market a day after it had been shaken by huge loan losses reported Monday by Bank of America Corp.
In his written testimony, Geithner said the vast majority of banks "have more capital than they need to be considered well-capitalized by their regulators."
The Dow Jones industrials jumped 1.6%, and the Standard & Poor's 500 index surged 2.3%, as each gauge erased almost half its drop recorded Monday.
Several financial institutions have indicated they want to return their federal infusions of capital, saying the assistance makes them appear in need of help when they aren't or comes with onerous conditions such as restrictions on executive pay.
Geithner was questioned sharply Tuesday about recent comments indicating that even if some of the largest recipients of bailout money wanted to return the money, government officials might not allow it.
"If there are firms that wish to repay taxpayers their money . . . why wouldn't you take the money back?" asked Rep. Jeb Hensarling (R-Texas), one of two lawmakers on the panel.
Geithner said that "nothing would make me happier," but that administration officials and bank regulators would need to weigh the potential effect on the economy.
....
Annie, you're a liar.
"Indicated". That's all you got? Soem banks indicated?
Everyone that has asked to pay back has been allowed to. That has been the case since day 1. It took one bank more than 30 days to return the money. And they returned this week.
You are one blind ass partisan. You beleive this tripe in the face of bank after bank returning the money, not a single bank denied and you can't provide an ounce of evidence that anyone has been denied the right to return the money.
Putting aside the fact that the original terms didn't allow them to return the money at all for three years. A bunch of bitching about changes made in the agreement.....changes like aloowing the money to be returned early. And now they're bitching about that and no one has been denied that. No one.
Annie, you're a liar.
"Indicated". That's all you got? Soem banks indicated?
Everyone that has asked to pay back has been allowed to. That has been the case since day 1. It took one bank more than 30 days to return the money. And they returned this week.
You are one blind ass partisan. You beleive this tripe in the face of bank after bank returning the money, not a single bank denied and you can't provide an ounce of evidence that anyone has been denied the right to return the money.
Putting aside the fact that the original terms didn't allow them to return the money at all for three years. A bunch of bitching about changes made in the agreement.....changes like aloowing the money to be returned early. And now they're bitching about that and no one has been denied that. No one.
You are the liar and disseminator of illogic. Got a problem with the link? Didn't think so. Pwnd.
Absolute, partisan bullshit.
NO BANK that has applied to return TARP money has not been allowed to do so.
TCF Financial, the bank that was whining last week about this, was approved and returned their TARP this week.
http://uk.reuters.com/article/marketsNewsUS/idUKN2241307420090422
Partisan lies.
Name one bank that has not been allowed to pay their TARP back. Name one bank that has applied to do so and has been denied. You can't. I have shot down every dumb ass partisan thread making this bogus claim. It's a lie.
Everyone having applied to the Treasury to returh TARP money has been allowed to so so, thus far. Until you've got something, how about keeping this bullshit under your hat.
Now you are just spamming. Tool.Annie, you're a liar.
"Indicated". That's all you got? Soem banks indicated?
Everyone that has asked to pay back has been allowed to. That has been the case since day 1. It took one bank more than 30 days to return the money. And they returned this week.
You are one blind ass partisan. You beleive this tripe in the face of bank after bank returning the money, not a single bank denied and you can't provide an ounce of evidence that anyone has been denied the right to return the money.
Putting aside the fact that the original terms didn't allow them to return the money at all for three years. A bunch of bitching about changes made in the agreement.....changes like aloowing the money to be returned early. And now they're bitching about that and no one has been denied that. No one.
You are the liar and disseminator of illogic. Got a problem with the link? Didn't think so. Pwnd.
Everyone that has applied to pay back has.
You're full of shit.
Now you are just spamming. Tool.You are the liar and disseminator of illogic. Got a problem with the link? Didn't think so. Pwnd.
Everyone that has applied to pay back has.
You're full of shit.
Now you are just spamming. Tool.Everyone that has applied to pay back has.
You're full of shit.
No, just repeating facts that you can't or won't accept.
Again, show us one bank that has been denied the opportunity to repay.
Can you do it?
Can you support that the banks aren't being allowed to repay?
You can't.
So, something that didn't exist at all, now all of the sudden exists?The government has reserved the right to regulate payback. It was reserved from the first day, under the Bush plan. That plan was 3 years for TARP to be returned. It is only the new regs that even allow for the possibility of early repayment.
Again, no one has been denied repayment, as of yet. When the banks took the money there was no chance to repay for three years, at all. Now that opportunity exist and it is being exercised.
This is all a bunch of smoke.
Now you are just spamming. Tool.Everyone that has applied to pay back has.
You're full of shit.
No, just repeating facts that you can't or won't accept.
Again, show us one bank that has been denied the opportunity to repay.
Can you do it?
Can you support that the banks aren't being allowed to repay?
You can't.
