I'd like to see an update on that and proof that those banks were allowed to return the money. Other banks have been told they could return it only to be told they couldn't shortly after. Either way, TARP wasn't just capital.
They'll never learn. Still throwing money at problems: The Associated Press: Obama refocuses bailout on small businesses
Re: exec pay cut This is exactly 100% correct. Executive pay even into the 10s of millions is a rounding error for a company like BOA or Citi. This is all for a show. What I think is more wasteful is the couple hundred thousand the pay czar makes.
I don't have a link, but for sure JPMC and Goldman have repurchassed all their warrants. Most of the other 10 have as well.
that is certainly true, but in fairness i think almost all of the republicans her were against the bush bailouts and generally opposed to the bush spending. it really seems like a true fiscal conservative should be able to get elected and really kick ass, but it just never happens, damnit. we care more about personality than policy.
I was never against Bush's military spending. TARP came about during the home stretch of the presidential campaign and, in true Obama fashion, our attention was diverted. Personally, the bailout of AIG probably saved my job so I'd be a hypocrite to say I was against it. Philosphically I was but it's kind of like knowing your kid committed a crime and trying to decide whether to turn him/her in.
These businesses already failed with lack of competent leadership. So what is the damned difference? I agree. This plan SHOULD have had concrete plans on how to get out from the governments thumbs. That is something the companies should have asked about before they took the money. I don't like the sliding scale that the Gov is using.
