Posted on 03/25/2009 2:00:07 PM PDT by iThinkBig
This is the list of every bank that has taken $100 million or more TARP funds. There are 8,000 banks that have not taken TARP funds. Let's reward these banks with our deposits. They did not make systematic risk bets. They were prudent in their lending. They should be rewarded for these actions. The list of banks below should be punished for their actions.
If you have money in one of these banks, consider a withdrawal to put in a non-TARP bank.
(Excerpt) Read more at theburningplatform.com ...
As others have pointed out, your anger is misplaced.
Wells Fargo was one of the banks that was arm-twisted into accepting TARP funds. They didn't ask for it, and they didn't need it.
But, the Treasury Dept. wanted to avoid the perception that only some banks were "in trouble" and needed the funds. To avoid a run on those banks (and exacerbating their very real problems), the other banks were "convinced" to accept bailout funds they didn't need.
May these banks die.
Wachovia has since been rescued by Wells Fargo. Wells Fargo is trying hard to pay back TARP funds they accepted to rescue Wachovia.
That is classic, if you somehow mess up and have a $100 check, a $35 check, a $25 check and a $20 check all show up on the same day and you only have $85 in your checking account, they will cash the $100 check first, ding you an overdraft for that one, and then get you 3 more times for the other ones, instead of cashing the first 3 checks that came to $80 and then bouncing the $100 and hitting you with only 1 overdraft fee. There’s a special corner of hell for sleazy bankers.
Why would they have to be working hard to repay it if they didn't need it in the first place??? Shouldn't this TARP money still be readily accessible to return???
And Wells Fargo did not get TARP money for buying Wachovia.
The Wells Fargo agreement calls for the complete merger of Wells Fargo and Wachovia with no federal assistance. Wells Fargo said it will acquire all of Wachovia's businesses, including its debt in a "stock for stock" transaction. As part of the deal, Wells Fargo, which is based in San Francisco, would gain control of all outstanding shares of Wachovia's common stock. Wachovia is based in Charlotte, N.C.
I have used my credit union for 30 years. Why would I change to a bank? I was with them before they started checking accounts.
Wrong. TARP wasn't the only reason I dumped Wells-Walkoverya.
Oh yes, a pox on them.
I loved that they pulled out my money a couple of days in advance of the transfer so they could make away with my money.
They had all sorts of tricks to take my money. Better to deal with payday loan people then these large banks.
why did they take them then?
I doubt Paulson, Bernanke, et. al. allowed recording devices in the meetings, so try these links:
http://patdollard.com/2009/02/us-bancorp-ceo-the-government-literally-forced-us-to-take-tarp-money/
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWWd8s37rrE0&refer=worldwide
http://www.financial-planning.com/news/Richard-Davis-Tarp-Funds-2661218-1.html
Forced to, just like I was forced to buy that LCD television that was on sale, for competitive reasons.
I dealt with that too, cost me about $600 in overdrafts. Scams abound everywhere.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.