Obama allows TARP repayment

[DiveCon]

I agree that it isn't the business of government. Problem is, THE TAXPAYERS screamed bloody murder and demanded this.

The banks seem more stable and public confidence is a bit better. If they want to give it back, they have been given that opportunity. However, the banks still owe the public for a total sum of money which they do not now, nor ever, will they have. When panic is in the throats of the public and banks runs are on the horizon, the government is right to do what they can to stem that tide. It would be a disaster.

It actually looks like TARP has had a positive effect, with these same banks now wanting to stand on their own. Fine, I say. Let them give the money back. They have that opportunity. I hate to see us financing private banks. Not supposed to be that way and my gut tells me to let private industry fail when it will. But this isn't just any industry and the fact is, it would be a disaster to let them fall, especially all at once.

So, give us our money back, no harm, no foul and try to watch your ass in the future.

actually, POLITICIANS screamed bloody murder and wanted this done
most citizens were absolutely opposed to it, over 80%

 

[DiveCon]

Nope, that has been noted, if read this discussion. I am fully aware that the opportunity to repay was a result of new restrictions. IOW, You don't like the restrictions, here is the door.

As for your article claiming that anyone has been denied early repayment, it's bullshit. We have firmly covered the fact that only 6 banks have actually applied to return the money and 5 were approved in a matter of days. Goldman and BOA and the others are just crying for sympathy points. None of them have actually asked anyone to take the money back....well except the media. It appears they have asked the wrong people. Someone should direct them to the Treasury where they are taking this money back promptly, when asked.

The article plainly states $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California.

And as of this article's writing the chairman (probably of Sun)offers to write a check, now, with interest. He's been sitting on the cash for months and has felt the dead hand of government threatening to run his business and dictate pay scales.

But the Obama team says no, since unlike the smaller banks that gave their TARP money back, this bank is far more prominent.

I don't know WHEN the Obama said no or WHEN they have now allowed it to return the money....I didn't write the opinion....

Anyway, the point I'm making is Bush did not try to exert any control over the banks while that seems to be Obama's objective...

Oabma isn't trying to exert any control. The TAXPAYERS asked for that. It's our money. We screamed about it, they responded, doing exactly what we asked for: limit multi million dollar bonuses and salaries with OUR MONEY.

but thats not true
most people were opposed to this bloody nonsense

 

[Peejay]

The article plainly states $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California.

And as of this article's writing the chairman (probably of Sun)offers to write a check, now, with interest. He's been sitting on the cash for months and has felt the dead hand of government threatening to run his business and dictate pay scales.

But the Obama team says no, since unlike the smaller banks that gave their TARP money back, this bank is far more prominent.

I don't know WHEN the Obama said no or WHEN they have now allowed it to return the money....I didn't write the opinion....

Anyway, the point I'm making is Bush did not try to exert any control over the banks while that seems to be Obama's objective...

Oabma isn't trying to exert any control. The TAXPAYERS asked for that. It's our money. We screamed about it, they responded, doing exactly what we asked for: limit multi million dollar bonuses and salaries with OUR MONEY.

but thats not true
most people were opposed to this bloody nonsense

As usual, I would ask that you bring something in to support what you say.

 

[DiveCon]

Oabma isn't trying to exert any control. The TAXPAYERS asked for that. It's our money. We screamed about it, they responded, doing exactly what we asked for: limit multi million dollar bonuses and salaries with OUR MONEY.

but thats not true
most people were opposed to this bloody nonsense

As usual, I would ask that you bring something in to support what you say.

oh shit
come on man
the polls were all over the fucking place last fall



are you really THAT fucking uninformed that i have to rehash all that again for you?

 

[manu1959]

Oabma isn't trying to exert any control. The TAXPAYERS asked for that. It's our money. We screamed about it, they responded, doing exactly what we asked for: limit multi million dollar bonuses and salaries with OUR MONEY.

but thats not true
most people were opposed to this bloody nonsense

As usual, I would ask that you bring something in to support what you say.

Americans Want Details Before Release of More TARP Funds

PRINCETON, NJ -- A majority of Americans (62%) say Congress should block President-elect Obama's request to release the remaining $350 billion in Troubled Asset Relief Program (TARP) funds until more details are provided about how the funds will be spent.

The rest of Americans are split between saying the funds should be released immediately and saying they should not be released at all.

this would mean 62% + 1/2 of 38% for a total of 81% of americans say no.....never did get those details and they passed it out anyway then voted to pass out another 700 billion....

 

[Peejay]

but thats not true
most people were opposed to this bloody nonsense

As usual, I would ask that you bring something in to support what you say.

oh shit
come on man
the polls were all over the fucking place last fall



are you really THAT fucking uninformed that i have to rehash all that again for you?

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

 

[DiveCon]

As usual, I would ask that you bring something in to support what you say.

oh shit
come on man
the polls were all over the fucking place last fall



are you really THAT fucking uninformed that i have to rehash all that again for you?

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

DUH
what the hell do you think we are all talking about
BOTH TARP I and TARP II
neither of them should have been done neither should that $450 B porkulous bill
it was nothing but wasteful spending and government over stepping its constitutional bounds

 

[manu1959]

As usual, I would ask that you bring something in to support what you say.

oh shit
come on man
the polls were all over the fucking place last fall



are you really THAT fucking uninformed that i have to rehash all that again for you?

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

the payments weren't bonuses they were defered salaries for those that chose or were asked to stay and help fix aig.....they were being paid a base sallary of $1 .... the false outrage of congress caused most of them to say fuck it and return it and several to resign....

 

[Peejay]

oh shit
come on man
the polls were all over the fucking place last fall



are you really THAT fucking uninformed that i have to rehash all that again for you?

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

DUH
what the hell do you think we are all talking about
BOTH TARP I and TARP II
neither of them should have been done neither should that $450 B porkulous bill
it was nothing but wasteful spending and government over stepping its constitutional bounds

Look, much like my retarded cousin, I have learned to understand much of what you say, despite your short coming with communication. Again, do you have any support for what you claim ? Please bring it if you do.

 

[Annie]

oh shit
come on man
the polls were all over the fucking place last fall



are you really THAT fucking uninformed that i have to rehash all that again for you?

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

the payments weren't bonuses they were defered salaries for those that chose or were asked to stay and help fix aig.....they were being paid a base sallary of $1 .... the false outrage of congress caused most of them to say fuck it and return it and several to resign....

and in the meantime, many of those white house staffers and admins took lots of $$$ from those same 'bad banks':

Obama Team's Finances Released - WSJ.com

PRIL 6, 2009
Obama Team's Finances Released
By JOHN D. MCKINNON

WASHINGTON -- Recently released financial records paint a contrasting picture of the Obama administration: a cabinet composed largely of politicians and government employees who have been on the public payroll for years, and a White House staffed with numerous aides who received substantial compensation over the past year from firms that could have a big stake in administration policies.

The financial disclosures follow criticism by President Barack Obama and some of his officials that some financial firms have paid overly generous compensation to their top executives.

White House spokesman Ben LaBolt said Sunday that "the president searched the public and private sectors in order to find an experienced team that could bring change to Washington and get our economy back on track. Many of his advisers took large pay cuts and sold substantial assets in order to serve the president at this critical moment for our nation."

Well-paid White House staff include chief economic adviser Lawrence Summers. He earned about $5.2 million from hedge-fund firm D.E. Shaw & Co. in the past year, and received more than $2.7 million in speaking fees from financial firms and other groups.

Other White House staff members received generous payments from the private sector, too. National-security adviser James Jones reported $900,000 in salary and bonus from the U.S. Chamber of Commerce, as well as director fees from a number of corporations, including $330,000 from Boeing Co. and $290,000 from Chevron Corp.

His deputy, Tom Donilon, earned $3.9 million as a partner at the law firm O'Melveny & Myers LLP, where his clients included Citigroup Inc., Goldman Sachs Group Inc. and Obama fund-raiser and hotel heiress Penny Pritzker. Mr. Donilon was formerly a top official at government-backed mortgage finance company Fannie Mae, which has received large amounts of financial assistance from the U.S. government.

Carol Browner, assistant to the president for energy and climate change, disclosed $450,000 in "member distribution" income, plus retirement and other benefits, from The Albright Group, a consulting firm whose principals include former Secretary of State Madeleine Albright. Ms. Browner's financial disclosure indicates that she has resigned from the firm and will receive a $369,000 payout over three years, based on a longstanding company formula....

it does go on and on....

 

[DiveCon]

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

DUH
what the hell do you think we are all talking about
BOTH TARP I and TARP II
neither of them should have been done neither should that $450 B porkulous bill
it was nothing but wasteful spending and government over stepping its constitutional bounds

Look, much like my retarded cousin, I have learned to understand much of what you say, despite your short coming with communication. Again, do you have any support for what you claim ? Please bring it if you do.

you condescending prick, fuck off

 

[manu1959]

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

the payments weren't bonuses they were defered salaries for those that chose or were asked to stay and help fix aig.....they were being paid a base sallary of $1 .... the false outrage of congress caused most of them to say fuck it and return it and several to resign....

and in the meantime, many of those white house staffers and admins took lots of $$$ from those same 'bad banks':

Obama Team's Finances Released - WSJ.com

PRIL 6, 2009
Obama Team's Finances Released
By JOHN D. MCKINNON

WASHINGTON -- Recently released financial records paint a contrasting picture of the Obama administration: a cabinet composed largely of politicians and government employees who have been on the public payroll for years, and a White House staffed with numerous aides who received substantial compensation over the past year from firms that could have a big stake in administration policies.

The financial disclosures follow criticism by President Barack Obama and some of his officials that some financial firms have paid overly generous compensation to their top executives.

White House spokesman Ben LaBolt said Sunday that "the president searched the public and private sectors in order to find an experienced team that could bring change to Washington and get our economy back on track. Many of his advisers took large pay cuts and sold substantial assets in order to serve the president at this critical moment for our nation."

Well-paid White House staff include chief economic adviser Lawrence Summers. He earned about $5.2 million from hedge-fund firm D.E. Shaw & Co. in the past year, and received more than $2.7 million in speaking fees from financial firms and other groups.

Other White House staff members received generous payments from the private sector, too. National-security adviser James Jones reported $900,000 in salary and bonus from the U.S. Chamber of Commerce, as well as director fees from a number of corporations, including $330,000 from Boeing Co. and $290,000 from Chevron Corp.

His deputy, Tom Donilon, earned $3.9 million as a partner at the law firm O'Melveny & Myers LLP, where his clients included Citigroup Inc., Goldman Sachs Group Inc. and Obama fund-raiser and hotel heiress Penny Pritzker. Mr. Donilon was formerly a top official at government-backed mortgage finance company Fannie Mae, which has received large amounts of financial assistance from the U.S. government.

Carol Browner, assistant to the president for energy and climate change, disclosed $450,000 in "member distribution" income, plus retirement and other benefits, from The Albright Group, a consulting firm whose principals include former Secretary of State Madeleine Albright. Ms. Browner's financial disclosure indicates that she has resigned from the firm and will receive a $369,000 payout over three years, based on a longstanding company formula....

it does go on and on....

the rich get richer.....this time the just have a D on their voter registration cards......

 

[Peejay]

oh shit
come on man
the polls were all over the fucking place last fall



are you really THAT fucking uninformed that i have to rehash all that again for you?

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

the payments weren't bonuses they were defered salaries for those that chose or were asked to stay and help fix aig.....they were being paid a base sallary of $1 .... the false outrage of congress caused most of them to say fuck it and return it and several to resign....

Good news, that was !

 

[manu1959]

Oh....you're talking about public reaction to this under the Bush admin ?

I'm speaking towards the public support for restricitng the use of TARP funds for bonuses and out of sight salaries.

But still, if you can't bring support, you're just blowing smoke. As usual.

the payments weren't bonuses they were defered salaries for those that chose or were asked to stay and help fix aig.....they were being paid a base sallary of $1 .... the false outrage of congress caused most of them to say fuck it and return it and several to resign....

Good news, that was !

yes making people quit that did not cause the losses.... that offered to stay for a $1 / year to fix the company .....would be a good thing in your world.....

you gotta love all the obama staffer pulling down huge bonuses and speaking fees though....

 

[Ravi]

Maybe I'm retarded, but if I write a check to repay a loan I take it off my books...even if the receiver of the check doesn't deposit it immediately. I really am not getting the problem here.

 

[manu1959]

Maybe I'm retarded, but if I write a check to repay a loan I take it off my books...even if the receiver of the check doesn't deposit it immediately. I really am not getting the problem here.

until you are released from the contractual obligation and or the check is cashed your contractual obligation is not resolved.....

 

[Ravi]

Maybe I'm retarded, but if I write a check to repay a loan I take it off my books...even if the receiver of the check doesn't deposit it immediately. I really am not getting the problem here.

until you are released from the contractual obligation and or the check is cashed your contractual obligation is not resolved.....

What is the obligation?

 

[Yurt]

Maybe I'm retarded, but if I write a check to repay a loan I take it off my books...even if the receiver of the check doesn't deposit it immediately. I really am not getting the problem here.

the loan is not legally satisfied or discharged until the check clears the bank and is fully accepted...

check up on commercial paper law