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View Full Version : Several Banks Want to Give TARP Money Back; Aren't Allowed!?




Knightskye
04-04-2009, 11:12 PM
http://online.wsj.com/article/SB123879833094588163.html

Via Drudge (http://www.drudgereport.com).

Forced to accept money, and they can't pay it back?

Anyone know a liberal who can respond to this with something other than, "They're so greedy... they want to... give the... :eek:"?

torchbearer
04-04-2009, 11:16 PM
http://online.wsj.com/article/SB123879833094588163.html

Via Drudge (http://www.drudgereport.com).

Forced to accept money, and they can't pay it back?

Anyone know a liberal who can respond to this with something other than, "They're so greedy... they want to... give the... :eek:"?

The government can't totally control them unless they keep the money.

bigronaldo
04-05-2009, 09:20 AM
I'm curious as to which bank this is. He is using Judge Napolitano as the source, but I'd love to see the article/video of the Judge citing this story. Does anyone have any more info on this story besides this article?

BeFranklin
04-05-2009, 09:42 AM
I'm guessing wells fargo if I remember articles right from last fall. (?) There was a bank that had to be forced to sign. I may be misremembering which one.

torchbearer
04-05-2009, 09:44 AM
I'm curious as to which bank this is. He is using Judge Napolitano as the source, but I'd love to see the article/video of the Judge citing this story. Does anyone have any more info on this story besides this article?

The guy the judge is talking about is also the mysterious billionare.
The story was real.

MRoCkEd
04-05-2009, 09:46 AM
The guy the judge is talking about is also the mysterious billionare.
The story was real.
Wait.. The billionaire?

torchbearer
04-05-2009, 09:49 AM
Wait.. The billionaire?

yeh, i remember have some backroom discussions with people in texas. I asked seriously about this question because it was all over the forums.
What I remember is saying the guy ran a major bank, and i believe they said he was from or in texas. Was a huge supporter of Ron Paul and really wanted to make things happen for the campaign. Had we won an early state, it may have happened.

BeFranklin
04-05-2009, 09:51 AM
yeh, i remember have some backroom discussions with people in texas. I asked seriously about this question because it was all over the forums.
What I remember is saying the guy ran a major bank, and i believe they said he was from or in texas. Was a huge supporter of Ron Paul and really wanted to make things happen for the campaign. Had we won an early state, it may have happened.

Um, I talked to him but it was a guy thinking he was going to be rich because of some type of pyramid scheme. Seriously. There may have been more then one.

BeFranklin
04-05-2009, 09:54 AM
ie one of those users (there was more than one over time) wanted to give me a call, so I let them.

AutoDas
04-05-2009, 10:09 AM
I'm guessing wells fargo if I remember articles right from last fall. (?) There was a bank that had to be forced to sign. I may be misremembering which one.

No, you're right. It's Wells Fargo that was forced to take the TARP money that CEO Richard Kovacevich didn't want.

And here's another source about banks being tainted by TARP funds.
http://www.latimes.com/business/la-fi-tainted-money14-2009mar14,0,3702302.story

BeFranklin
04-05-2009, 10:10 AM
Here it is:

How Paulson forced bail-out on the banks
http://www.guardian.co.uk/business/blog/2008/oct/15/banking

I gave up connecting stories awhile ago, maybe I should try it again.

BeFranklin
04-05-2009, 10:12 AM
No, you're right. It's Wells Fargo that was forced to take the TARP money that CEO Richard Kovacevich didn't want.

And here's another source about banks being tainted by TARP funds.
http://www.latimes.com/business/la-fi-tainted-money14-2009mar14,0,3702302.story

Pinch poke - you just beat me :) I had a change of heart and looked it up. Gets time consuming if you do it for every story.

BUT this is what needs to be done communication wise right now since the mass media is falling on their a**'s again. Maybe a group could be formed. Posted something on another thread about the need for this right now. Disgruntled people all over, communication right now is useful.

Knightskye
04-05-2009, 10:28 PM
Wait.. The billionaire?

God, I remember the 30-page threads about "the billionaire."

:D

bigronaldo
04-06-2009, 09:33 AM
Ok, I've finally found the video of the Judge talking about this. He is in Studio-B with Shephard Smith.

http://www.eyeblast.tv/public/video.aspx?v=ydkU2GeuZu

He mentions that the bank is a $2.5 billion bank. I looked up Wells Fargo on Google Finance (http://www.google.com/finance?q=NYSE%3AWFC) and it's net income in 2008 was $2.6 billion. So it could easily be the bank he was referring to.

Now if that's true, does that mean that either Richard Kovacevich or John Stumpf is the billionaire?

BeFranklin
04-06-2009, 09:39 AM
Ok, I've finally found the video of the Judge talking about this. He is in Studio-B with Shephard Smith.

http://www.eyeblast.tv/public/video.aspx?v=ydkU2GeuZu

He mentions that the bank is a $2.5 billion bank. I looked up Wells Fargo on Google Finance (http://www.google.com/finance?q=NYSE%3AWFC) and it's net income in 2008 was $2.6 billion. So it could easily be the bank he was referring to.

Now if that's true, does that mean that either Richard Kovacevich or John Stumpf is the billionaire?

We ought to have a contest, Who wants to be a liberty-funding billionaire. :cool:

acptulsa
04-06-2009, 09:50 AM
Seems like one other--BoA?--accepted and then additional strings were attached after the fact. So, they said take it back, and the government said, in effect, we've got our hooks in you now and that's that.

Mani
04-06-2009, 10:43 AM
This is fascinating.

Some of these banks were strong armed into making a deal with the devil and there's no going back.