Treasury Refuses to Comment on Banks That Are Not Being Allowed to Pay Back TARP Money
Over the weekend I wrote about how there are several banks who no longer need the TARP funds and these banks tried to give the money back to the federal government but the administration refused to take the money back.
The TARP money comes with government controls and when the banks give the money back the stipulations go away, but the president isn’t interested in saving the economy and he isn’t interested in saving the banks. He is interested in controlling them and running them, that is why he will not allow the banks to pay back the TARP funds– he wants control.
The treasury department has been asked several questions about the president’s refusal to accept repayment of the TARP funds but they are unwilling to comment.
Despite repeated requests for the information from CNSNews.com, Treasury spokesman Andrew Williams wouldn’t say how many financial institutions want to give the money back in exchange for getting their stock back.
The Treasury Department also will not say whether it has refused any requests from financial institutions to repay the money they took from the government
This unwillingness to answer the questions is a confirmation in my book. The treasury department is not allowing the banks to give the money back because they want government to control the banks.
Once a government extends it’s power it never gives it back.
America's Watchtower 
I find it suspicious that the name of the bank is being withheld and that only WSJ is reporting this story. Until more details come out, this is no more than a conspiracy theory like Cheney’s assassination squad.
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Assassination squad? I missed that one.
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Here is a link to a story. Only one guy, Hersh, is making the accusation and it seems rather far fetched to me.
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Time to get grass roots support. I’ll be e-mailing our Senators and Representatives, and will spread the word. I hope many people do the same.
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Let’s see if this letter gets any results.
Judd Gregg April 10, 2009
Dear Senator Gregg,
I have heard stories recently concerning several banks trying to return TARP money to the government and being refused, or being made to wait for weeks or months for an answer. In some cases, it seems the money was just about forced upon them. There are even allegations that perhaps the Obama Administration does not want to relinquish their power/control, and that is why there is a reluctance to accept the payment. If only a fraction of this is true, I find it to be VERY UnAmerican! The only bank I have the actual name for is: TCF Financial, Wayzata, Minn. and the amount was about $361,000,000.
I would very much appreciate your checking on this and sending me a reply. Thank you in advance for your usual quick response and attention to this matter.
Your loyal supporter
xxxxxxx xxxxxxx
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Are you going to send it? I think that you should, but don’t be surprised if all you get is a form letter in respose.
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Already sent it. What I posted here was a copy/paste of the original.
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I will be interested to hear what the reply was.
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This is an excerpt of an article I wrote on my blog yesterday that deals with Mr. Pink Eye’ s topic here.
“Recently, in an article in The American Spectator, Brett Joshpe, reported this conversation between President Obama and the CEO of JP Morgan Chase, Jamie Damon,
When the President opened the floor for comments from the bank executives, JPMorgan CEO Jamie Dimon sprinkled him with some platitudes and then said that JPMorgan would seek to return public funds as soon as possible. Good news for the taxpayers, right? Apparently not, because Obama immediately challenged Dimon saying, “This is like a patient who’s on antibiotics. Maybe the patient starts feeling better after a couple of days, but you don’t stop taking the medicine until you’ve finished the bottle.”
Other executives agreed with Dimon, explaining that it was their duty to return the money as soon as possible and would send a positive sign to the markets. Obama disagreed, saying it would send the wrong signal. The signal to which Obama refers has nothing to do with the health of our financial system, job creation, credit markets, or the recession. Instead, Obama wants private enterprises to know that they have a new partner for life: good old Uncle Sam.
In fact, Obama has threatened banks that insist upon returning public funds with “adverse consequences.”
If the American Spectator is writing about this issue, I wouldn’t say it is “no more than a conspiracy theory like Cheney’s assassination squad.”
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I wouldn’t exactly call American Spectator an unbiased source of news but that is beside the point. When I went searching for more details, all of the other articles that I found referenced back to the WSJ article. So, what I was seeing was one reporter for a paper that has an agenda, an unnamed source (bank), and no quotes from outside sources to back it up. In short, the evidence was lacking. The Obama quote helps because it gives me something else to search for.
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