congress and the banks

efo141 wrote:

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".

So they didn't want the money? I did not know that.

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.

Yanche wrote: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.

At that same hearing, one of them had the gall to say that none of the TARP money was being used to pay bonuses. This make the same sense as saying none of the water used in adding water to a swimming pool was used to water the plants, since the watering can was filled on the other side of the pool from where the hose was.