Obama wants control of banks, refuses to let bank pay back TARP

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The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough. The White House wants to tell 'em what to do. Control. Direct. Command.

The chairman 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. He sees the writing on the wall and he wants out. But the Obama team says no, since unlike the smaller banks that gave their TARP money back, this bank is far more prominent. The bank has also been threatened with "adverse" consequences if its chairman persists. That's politics talking, not economics.

This is scary stuff folks. He wants control of the banks and won't them give the money back so they can get out from under his thumb. This is fascism people........

reply to post by johnny2127


The govt claims that it doesn't want certain prominent banks to give money back since that would plant in the minds of people that those banks giving the money back are stronger and safer than the ones who cant. Thus causing a run on the ones who need the tarp money.

This is simple communist strategizing, it is how zombie corporations of Japan are made. Nothing good will come from the forced weakening of one institution to make seem it is in the same predicament as competitors.

Control seems to actually be the modus operandis, bailouts were fakeouts on the public. Perception means control, he and the politicians want to take total control. Ponzi crooks trying to be king of the scheme.

Many banks were forced (Extorted) into taking the money, they never wanted it. They were told some nasty audits would be coming, if they did not comply.

As johnny says above this is fascism, pure and simple.

reply to post by johnny2127


I hope no one is surprised about this...really.

What is happening in Wall Street now, the Dow gaining... anyone expect any less?
The crooks, read that as OBAMA and his thugs, have put money into it to drive the numbers up. A criminal enterprise has taken over. They want YOU to put YOUR spare cash into the system, so they can remove it, as they make a tidy profit. Smoke and mirrors...it ain't tobacco smoke and the mirror is cracked.
The chief crook is looking to bypass the controls that congress enacted regarding executive bonuses tied to the bailed out companies. Another end around the law of the land... by executive order.

By the time 2010 elections roll around we won't have any choices, as all the crooks will be looking to get onto the gravy train. We will be lucky IF we get the opportunity to cast a ballot... cancelled by executive order.

reply to post by johnny2127


This is a no brainer. Let the banks give the money back.
If George W. Bush was still president would he allow the banks to give the money back?
I think capitalism is under attack.
God help us all.