Bankers unhappy about bailout
Posted by madmaxmacaw on March 4, 2009
America’s banking executives are having a tough time. First, they mess things up so badly that they require a humongous federal bailout.
No sooner do they get the federal funds than they start complaining about how difficult it is to manage a bank when taxpayers are looking over their shoulders. The logical thing for an executive in such a situation to do would be to make the most strenuous efforts possible to return the bailout funds.
Would it surprise you to learn that the bankers complaining most about the shackles that come along with bailout money don’t seem to have much of a sense of urgency about doing so?
In October, Northern Trust, the Chicago-based bank announced it would take $1.5 billion in TARP funds. But now it’s expressing annoyance that members of Congress are teed off about its sponsorship of a golf tournament. The bank, which is in good health, says it didn’t seek the funds but agreed to participate because the government wanted all the major banks to take part. Breaking News
Tom Awtry said
Our investments, savings, housing equities, retirement pensions and 401 plans have been relieved of our earned money; but, we know little regarding the facts of “how” and “where” are money went. What’s more unsettling is the simple fact it seems our governmental officials don’t know either, or present their plans of preventing this economic catastrophe from happening in the future:
http://ourcountryspresident.wordpress.com/2009/03/11/we-know-our-money-is-gone-%E2%80%93-but-no-one-knows-why-or-where/