View Poll Results: Should banks be allowed to repay TARP funds NOW?

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Thread: Should banks be allowed to repay TARP if they want to?

  1. #11
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    Re: Should banks be allowed to repay TARP if they want to?

    and also considering the FDIC backs up deposits no the banks should not be able to pay back at a whim.
    Now-needy FDIC collected little in premiums
    WASHINGTON - The federal agency that insures bank deposits, which is asking for emergency powers to borrow up to $500 billion to take over failed banks, is facing a potential major shortfall in part because it collected no insurance premiums from most banks from 1996 to 2006.

    ...

    As of Dec. 31, the FDIC had $18.9 billion in its insurance fund - down from $52.4 billion a year earlier - in addition to $22 billion that it has set aside for pending bank failures. The agency has projected it will need $65 billion to take over failed banks through 2013.

    But if the FDIC suddenly had to take over a giant bank such as Citigroup or Bank of America, the fund would be drained "in a flash," said Cornelius Hurley, director of the Boston University law school's Morin Center for Banking and Financial Law.
    Now-needy FDIC collected few premiums from banks for decade - The Boston Globe

  2. #12
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    Re: Should banks be allowed to repay TARP if they want to?

    Quote Originally Posted by winston53660 View Post
    Wow that is one heck of a strawman.
    How is it a strawman? When TARP was handed out, the executive pay caps and other restrictions were not in place or even talked about. Those came about only after the money had been taken.

    So, now, some banks who think they're OK want out from under it.
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  3. #13
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    Re: Should banks be allowed to repay TARP if they want to?

    When I loan someone money, I'm usually thrilled to get it back ahead of schedule.

    Of course, being a successful businessman and possessed of a firm understanding of finance and how money actually works, I use a slightly different set of economic theories than the rambling delusions of Dear Leader, Tiny Tim, and the cheerleader from Goldman Sachs, Larry Summers.

    It's called capitalism. Something they either have never heard of or refuse to believe in.

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    Re: Should banks be allowed to repay TARP if they want to?

    Quote Originally Posted by winston53660 View Post
    Wow that is one heck of a strawman. The government does have a vested interest in seeing that the money it prints is actually worth something and also considering the FDIC backs up deposits no the banks should not be able to pay back at a whim. They need to prove solvency before hand.
    If the government wants to make sure the money it prints is worth something, the ideal solution would be to STOP PRINTING

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    Re: Should banks be allowed to repay TARP if they want to?

    Quote Originally Posted by Harshaw View Post
    WASHINGTON -- Treasury Secretary Timothy Geithner indicated that the health of individual banks won't be the sole criterion for whether financial firms will be allowed to repay bailout funds, a position that might complicate their efforts to give back the cash.
    They may not be "allowed" to repay a loan?

    That has the be the most bizarre concept I've ever heard.

    Just because a bank is healthy it may not be allowed to pay the money back.

    No, that's still extremely wierd.

    Will Tax Cheat Geithner allow sick banks to repay the money, instead?

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    Re: Should banks be allowed to repay TARP if they want to?

    Quote Originally Posted by Scarecrow Akhbar View Post
    They may not be "allowed" to repay a loan?

    That has the be the most bizarre concept I've ever heard
    Pffft banks have been charging for early repayments for as long as I can remember. Why shouldn't the people who actually back up the money do the same?

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    Re: Should banks be allowed to repay TARP if they want to?

    Quote Originally Posted by winston53660 View Post
    Pffft banks have been charging for early repayments for as long as I can remember. Why shouldn't the people who actually back up the money do the same?
    Hello? I didn't say anything about an early repayment fee, though why the government, a non-profit entity, right? would want to impose one is mysterious enough.

    Nope, the Tax Cheat is saying he doesn't want the money back, now that he has control of the banks.

    Where in the Constitution is the government allowed to nationalize banks? (or make loans to them?)

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    Re: Should banks be allowed to repay TARP if they want to?

    Quote Originally Posted by Scarecrow Akhbar View Post
    Hmmm....I don't see anywhere in the Constitution authorizing the government to control banks.

    Since there's also nothing in the Constitution authorizing TARP, the sooner those "loans" are paid back and off the books, the better it will be.
    Hell the laundry list of unconstitutional acts by the federal govt is endless.
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    Re: Should banks be allowed to repay TARP if they want to?

    If the government wants to make sure the money it prints is worth something, the ideal solution would be to STOP PRINTING
    It needs to print money to purchase toxic assets and get the banks lending again. If they didn't implement that policy then we would be in a much, much worse situation than we are currently in.

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    Re: Should banks be allowed to repay TARP if they want to?

    Quote Originally Posted by Khayembii Communique View Post
    It needs to print money to purchase toxic assets and get the banks lending again. If they didn't implement that policy then we would be in a much, much worse situation than we are currently in.
    And how many toxic assets as the government purchased thus far?

    Where has all this newly created money gone?

    Can YOU follow the money trail from TARP? No one else seems to have any success.

    Doesn't get much worse than that.

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