Free Republic

Can't get paid until your company pays back its TARP debt? Rather get fired than have to worry about paying it back? Get another company to pay the debt off for you! That's exactly how 5 execs from Marshall & Ilsley Corp (a bank holding company) plan to get paid, according to The Business Journal. CEO Mark Furlong, for example, would not get paid the $18 million "golden parachute" package that he has written into his contract with M&I if the company changes control (aka, he leaves) while it still has to pay back TARP. The same would happen to...

Bill Cooper has said "thanks, but no thanks" to government money. Citing changed terms, the chief executive of Wayzata-based TCF Financial Corp. said today that it has asked for permission to repay the federal government the $361 million it received last November from the U.S. Treasury under its Troubled Asset Relief Program, or TARP. "I don't want to be part of the new regulatory regime that's growing up around TARP," Cooper said in an interview. "Congress is now talking about putting their oar in the water on just about everything we do. That puts us at a competitive disadvantage." TCF...