"I will say this very bluntly: We were told to take it. Not asked, told."


So what really happened at that weekend meeting with all the big banks? Someone doesn't have the facts straight, and the American people don't know.
Hmmm. This one is intriguing.

But Davis was critical of the U.S. Treasury's Troubled Asset Relief Program introduced last fall, saying that while the program was well intended, it has turned out to be "lousy."

Created to encourage lending to small businesses and consumers, TARP started by shoveling tens of billions of dollars at the country's biggest banks but soon was expanded to include banks of all sizes. Minneapolis-based U.S. Bancorp got $6.6 billion.

"I will say this very bluntly: We were told to take it. Not asked, told. 'You will take it,' " Davis said. "It doesn't matter if you were there on the first night and you were told to sign on the dotted line before you walked out of the office, or whether in the days that followed, you were told to take it."

But by Tuesday afternoon, a U.S. Bancorp spokesman said Davis had misspoke, and meant that because the largest banks in the country took TARP money, U.S. Bancorp and others were forced to do so as well, for competitive reasons.

So we have differing stories here. But there have been persistent rumors that the FedGovs didn't the give the banks a choice to sign.

I think I find it even more significant that the current official reason U.S. Bancorp took the money was for competitive reasons.

Either way it actually went down, it certainly appears that the Federal government set out to destroy the free market, doesn't it?

— NeoWayland

Posted: Thu - February 19, 2009 at 12:15 PM  Tag


 ◊  ◊   ◊  ◊ 

Random selections from NeoWayland's library


Pagan Vigil "Because LIBERTY demands more than just black or white"
© 2005 - 2009 All Rights Reserved