More Choice Words for TARP
Jamie Dimon, addressing JPM's intention to return TARP funds, calls the visa restrictions tacked onto the program by the Obama administration "a complete and utter disgrace." And this from a guy who has been trying to play nice.
Of course, TARP was the leverage that the Obama administration had over banks in the Chrysler bankruptcy and Team Obama want that same leverage in order to deliver unto the UAW the same sweet deal in the impending GM bankruptcy. So the TARP funds won't be easy to repay and they won't take the money back before the bulk of GM is handed to the union. Sure enough.
Aside: I thought that taxpayers were irate that their hard earned dollars were going to bolster faltering banks. But leave it to the media to find a cloud in the silver lining of banks giving back the money - no upside.
Of course, TARP was the leverage that the Obama administration had over banks in the Chrysler bankruptcy and Team Obama want that same leverage in order to deliver unto the UAW the same sweet deal in the impending GM bankruptcy. So the TARP funds won't be easy to repay and they won't take the money back before the bulk of GM is handed to the union. Sure enough.
Aside: I thought that taxpayers were irate that their hard earned dollars were going to bolster faltering banks. But leave it to the media to find a cloud in the silver lining of banks giving back the money - no upside.
posted by Donny Baseball at 11:32 AM
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