Something just does not smell right and does not pass the constitutional muster.
Can government COERCE a private company to ACCEPT money they did not ask for ?
Funny how after the government started attaching strings to the TARP bailouts, the banks all started saying they didn’t want it in the first place, they didn’t need it, Hank Paulson forced them into it.
I have a hard time believing that people in powerful financial positions are that easily coerced.
Would you say no if the Treasury Secretary called you up and said he demanded you accept a $45 billion bailout at 0% interest, no rush, pay us back whenever you feel like it?
“Can government COERCE a private company to ACCEPT money they did not ask for ?
Funny how after the government started attaching strings to the TARP bailouts, the banks all started saying they didn’t want it in the first place, they didn’t need it, Hank Paulson forced them into it.”
They can’t, but every single one of them knew that they’d fall like dominoes unless it was a package. Those bastards that brag today were shaking in their boots and imagining themselves selling their $50 Million artworks to ‘survive.’
For example, if BAC had failed, Citibank would have followed and viceversa. They had this scam where they guaranteed each others’ debts and bets along with shell companies. Or AIG ‘insuring’ a gazillion billion of CDOs with barely any money set in reserves.