efo141 wrote:So they didn't want the money? I did not know that.Black_And_Blue wrote:efo141 wrote:The members of congress should be questioned about throwing money at the banks the first time around. Like did you honestly think the banks would do the the right thing with the money without any stipulations?
The banks were FORCED to take the bailout.
Or to speak legalize, they were pushed and urged by regulators to participate in the "Capital Purchase Program".
At the recent Congressional hearing, the CEO of the bank's were asked by Barnie Franks if any of them wanted to give the money back. None did. Only one CEO said they had reduced their salary. All did say they were forgoing options money. It will be interesting how many take additional TARP money that now it has the condition of reducing executive pay. Those that do will be the banks in greatest danger of failure.