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Even loansharks took the money back

By Brian | April 20, 2009 | Share on Facebook

I’ve written several long, rather technical posts on The Financial Crisis(TM). But this is short and sweet:

U.S. to put conditions on TARP repayment:

NEW YORK (Reuters) – Strong banks will be allowed to repay federal bailout funds, but only if such a move passes a test to determine whether it is in the national economic interest, the Financial Times reported on Sunday, citing a senior U.S. administration official.

The report said banks that had plenty of capital and demonstrated an ability to raise fresh capital from the market should, in principle, be able to repay government funds.

But the judgment would be made in the context of the wider economic interest, the report said.

So here’s my question: does refusing to take the money back when the banks are willing to pay it lessen our leaders’ ability to say, “How dare they spend money on <X> when they’ve accepted $<Y> billion in taxpayer-funded TARP money?”

No, I didn’t think so…

Topics: Money Talk | No Comments »

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