Wall Street Men May Flee World According to TARP

[katty]

more: http://www.bloomberg.com/apps/news?pid=20601087&sid=aP6xr9LsyklY&refer=home

Wall Street Men May Flee World According to TARP (Update2)

By Linda Shen and Bradley Keoun

Feb. 12 (Bloomberg) -- Bank of America Corp., JPMorgan Chase & Co. and Morgan Stanley may decide after enduring yesterday’s congressional hearing that the old Troubled Asset Relief Program is more trouble than it’s worth.

Eight chief executive officers of the biggest U.S. banks heard lawmakers in Washington criticize their bonuses, underwriting fees and perks. Representative Emanuel Cleaver, a Missouri Democrat, read questions from angry constituents asking what banks did with money they’d taken from the $700 billion TARP fund, and Representative Michael Capuano, a Massachusetts Democrat, said he “cannot believe no one has prosecuted you.”

With more scrutiny ahead, bankers including JPMorgan’s Jamie Dimon, Morgan Stanley’s John Mack and Goldman Sachs Group Inc.’s Lloyd Blankfein have said they’d like to repay government loans as soon as possible. BB&T Corp. CEO Kelly King told an investor conference yesterday that his Winston-Salem, North Carolina-based bank wants to be first to get out of TARP and escape U.S. restrictions, which can be added retroactively.

“We’d like nothing better than to pay it back early,” said Bank of America CEO Ken Lewis, whose Charlotte, North Carolina-based company has received $45 billion of TARP plus $118 billion in guarantees. Asked why some banks spurned the funding, Lewis said, “They don’t want the government involved in their business, it’s as simple as that.”

[rpannier]

1. Good

They can give it back

Go bankrupt

Be seized by the government

And we're done with them

[DJ13]

2. They don’t want the government involved in their business

........if theres strings attached.

[Jackpine Radical]

3. Translation:

Give us money.
Don't ask questions.

[denverbill]

5. Well, except for the fact that we guarantee their depositers, we aren't.

SOO, how about finding someone else to guarantee your assets if you don't want us involved in your business?

[Algorem]

4. they already own this planet,why go to another one?

[aquart]

6. Then they didn't need it in the first place, little greedy thieves.

[acmavm]

8. Yeah. If they can just hand it back then there was something wrong in the

first place.

[MasonJar]

7. They'd better be regulated bailout money or no! Enough is too much.