This matches the youtube report by Judge Napolitano of Fox News who claims that one of the bank CEO’s approached him. The bank CEO said that healthy banks were threatened with bank audits if they didn’t take the TARP money.
However, I believe this report may have incorrect analysis. I thought the original funds did not convey equity. Is that not the case?
As I understand it, the government was issued preferred stock which is equity but doesn't include voting rights.