Saturday, April 04, 2009

Refusal to accept TARP money

No, its not the banks that have refused to accept TARP money. They apparently weren't given the option to refuse. It is the government which refuses to accept repayment of TARP money! In a Wall Street Journal article, Stuart Varney writes,

I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week from four small banks in Louisiana, New York, Indiana and California. This isn't much when we routinely talk in trillions, but clearly that money has not been wasted or otherwise sunk down Wall Street's black hole. So why no cheering as the cash comes back?

My answer: The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control. And for this intensely political president, mere influence is not enough. The White House wants to tell 'em what to do. Control. Direct. Command.

I feel like the America I've grown up in is in the process of being overthrown.


rockwebmedia said...

Obama at the G20 jointly produced a document to control "all firms" on the earth. It is not just the banks. They claim power over any firm 'essential' to the economy.

Dennis said...

Thanks, rockwebmedia! Excellent link!I would encourage all my readers to go there.