Bank to Give Back Government Money

Discussion in 'Politics' started by carpro, Mar 21, 2009.

  1. carpro

    carpro
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    http://www.usatoday.com/money/industries/banking/2009-03-03-tcf_N.htm

    Midwest bank plans to give government money back
    Updated 3/3/2009 11:34 AM



    WAYZATA, Minn. (AP) — TCF Financial (TCB) plans to return more than $361 million it got from the federal government four months ago, saying the "the rules have definitely changed" since it accepted the money from the government.

    The bank holding company, which has operations in seven states, has asked permission from federal regulators to return the money it received in November under the Troubled Asset Relief Program.
     
  2. Revmitchell

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    Good.............
     
  3. matt wade

    matt wade
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    Actually...you all do understand that all the banks will be giving the money back, right? It was a loan to the banks.
     
  4. carpro

    carpro
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    The real fun part is that "regulators" have not devised a way for the banks to simply give it back.

    So they have to sit on it until that gets done.

    I don't think the government ever intended that the money be paid back. Instead they wanted it loaned out to more people with marginal or bad credit.

    Some banks are simply refusing to do more of what caused the problem in the first place. Unlike the Obama Administration, they don't see that doing more of a bad thing is good.:thumbs:
     
  5. BigBossman

    BigBossman
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    The problem is when all of this money was given out, the Senate, the House, or the Chief Executive (not sure who) didn't read what they were signing. I know that President Obama throughout his campaign & prior to taking office kept saying he would go through each & every bill "line by line". (So far that's one promise broken) If they would have taken thier time, or if they would put limits on what could be done with the money, none of this would have been happening. Or at the very least, not to anyone's surprise.
     
    #5 BigBossman, Mar 24, 2009
    Last edited by a moderator: Mar 24, 2009
  6. carpro

    carpro
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    You knew Obama was lying from the beginning, didn't you?

    Not only had the line item veto been held as unconstitutional, he had no intention of even trying.

    He has now proven it.
     

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