Sunday, April 05, 2009

Once the Mob Has You

First, the banks are given an offer they cannot refuse and now, they cannot give it back.:
"Fast forward to today, and that same bank is begging to give the money back. 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."
It is all about control.

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