Some banks want to give the money back to the Government now that they fully understand how much control the Government will have over their business. They not only can control who to hire and fire, but how much to pay as well. If they don't like how the business is run they can act on that too. Now the Government can say: "No don't pay us back just yet", so they can continue this control. Once the Government controls the money, it controls where the loans go, as in what districts can get it. Did you vote for me? or not? Control the money and you control the people. Something is not right in Kansas people. Take care Lost
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| Banks Don't want Government Regulation |
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edthepoet
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Apr 6 @ 2:39PM
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I think its perfectly alright for the Govt to have major control of those banks who borrow money,after they screwed up big time with their money.
Are we suppose give them money and let them do whatever they want, especially giving out huge bonuses when they bank didn't make a profit?
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imlost2
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Apr 6 @ 2:43PM
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Some of the banks that were mentioned had the money forced on them Ed, they didn't want the money in the first place, and were ready to pay it back, with interest. The Government did allow some of the smaller banks to pay them the money back according to this latest new cast I just watched but not the larger banks. Go figure. Lost
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Wolf36
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Apr 6 @ 3:37PM
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The trouble is Ed, the government is no more capable of managing these banks than they would be in running a lemonade stand. Just look at Fannie and Freddie as 2 examples of lending institution/government intervention.
I'll also make one more statment; the man calling the proposed shots on these management decision wasn't even paying his own taxes (Geittner), that doesn't exactly fill me with confidence in his choices either.
Wolf
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CHARLIgurl1
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Apr 6 @ 3:43PM
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Along with the car industry, I think the government will have control over a lot of things eventually.
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Mission_Impossible139
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Apr 6 @ 3:50PM
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The government is NOT forcing banks to take the money. As far as who is better at running defunct banks well...we know what most of the defunct banks did to us all with credit default swaps and other instruments that should be illegal. In other words, those bank folks GAMBLED our money away. It's time for the government to step in. Let's face it, the other way already has been proven to NOT work. If you can't see that you're blind.
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asnet
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Apr 6 @ 4:01PM
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Yes you sure are lost Lost.
Hurry up and put some more money in your bank so you can lose even more
when the government steps out and your bank goes pfft!
because so many wildassed right wing nuts
prefer chaos, suffering, earthquakes, war and death to peace.
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imlost2
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Apr 6 @ 4:03PM
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According to the newscast, if you can believe the news these days, the banks in question that wanted to give the money back, were forced to take the money. It was part of this "stimulus" plan. They didn't need nor want the money. But, who knows what to believe in these times, I am just repeating what the news said today on tv, and that is some banks were forced and now wanted to return the money with interest. I am not talking about failed banks. Lost
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graygoast
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Apr 6 @ 4:25PM
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Ya take there money ... ya take there chit. 
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imlost2
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Apr 6 @ 4:35PM
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I would also like to remind folks that when we were sold this stimulus package, they said that any business that got the tax payers money, once they were on their feet, they were allowed to pay the money back, and they'd be on their own again. The tax payers were promised to make also profit on this stimulus bill, so there you have it, the banks were willing to pay us back, with interest, and we'd get some of this money back with profit now. Why are they not allowing banks that haven't even failed to pay it back to us now? Maybe our taxes would be lower. I don't believe I am Lost, if the bank and their lawyers have decided they are no longer in the "red" and can pay this money back, I think it should be done. Lost
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ragtopcookie
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Apr 6 @ 4:40PM
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Ive sort of been following this......from what i understand about this.....the government is going to control these banks by better regulation......something thats gotten us into this to begin with,.....no real regulation......can they scew it up?.....sure.....but somebody has got to try........cookie
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misschoos
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Apr 6 @ 4:48PM
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It's crazy, quantative smoothing, used to be called 'printing money!'
Virtual debt, we could pay it all back with kudos.
My suggestion is as good as theirs don't you think?
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john49887
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Apr 6 @ 5:02PM
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Here's to the banks!   
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inxs900
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Apr 6 @ 10:10PM
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Socialism comes in many guises, government run banks, health care and we are even told that Obama will make sure that if your GM vehicle will always have maintenance no matter what. This from a president , now thats a great warranty how can anyone possibly complain.?
You voted as a country knowing what was going to happen if this political party took office, they are even printing money. Apparently no-one has ever read their history books in this country, if you start to print money look to the countries in history that tried this as a "stimulation" idea and you should get an idea whats comming.
China now more or less owns the US with the debt that is owed to this communist country and it is highly unlikely this country will ever be able to pay it back . For those of you who think otherwise, how exactly can they ?.
Apparently they even taking extra care of those in Welfare by giving them each a $200 stimulus pay check award in May.
Continue to work hard, there is no way to pay back other than taxes, oh and you guys not fought the Brits and are proud of no" taxes without representation a statement made by the Rev Johnathan Mayhew" .Well these days are long gone !
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observed50
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Apr 7 @ 1:23AM
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Since the inception of the United States, key statesman and economists have warned of the power of banks to disrupt the nation's and the world's economies. The danger of a nation's money system being in the hand of private business owners could not be made more clear than what has happened in this global meltdown. The privatization of a nation's money supply and policy (as the Federal Reserve is no more 'Federal' than Federal Express) has been seen by many for hundreds of years as being contrary to a healthy democracy, and a stable economy.
Now, despite banks and their 'best and brightest' tanking the global financial system, we still have people who offer the archaic argument that 'government can't run a business.'
Take a moment...look around. Somehow, ideology replaces common sense. Government can't run a business??? So...is that to argue that private citizens hell bent on a buck at any cost, short-term gain at any one's expense...can run banks or national or global financial systems?? How does one stand in the midst of carnage, and say the system that creates the carnage can do better than the group forced to come in and rescue the world from the self-absorbed idiocy of business leadership that so frequently sacrifices its labor, the community or the world in the service the maximization of short term personal profit? You know...that whole wonderful incentivization argument that wealthy thieves need incentivized to keep their jobs at Goldman Sachs, Bank of Ameria and the other big TARP boys...?
Yes...big banks who were in the center of the fire storm were 'forced' to take TARP funds from Bush's Paulson to give stability to the core of the system. Fox News and the right wing bloggers want to interpret the lack of acceptance of return of the funds as a political ploy to force the banks to lend to Democratic friends. Evidence of this? None. Has any such political lending been done? Nope...of course not...Fox doesn't want to stir tings up with facts...but with conjecture. It's all about the projecting forward of ideological fears of government, Democrats and anything that isn't licking between the toes of the Golden Idol...*smooch..licklicklick..We so love you private business!*
Where do we get this strange idol we worship called 'private business?' Did the gods give us this golden idol? Which god? Was it...Mr. God Damn? Why is it so hard for us to see that what happened wasn't a fluke of some kind...and that as soon as the wiz kids learn their way through the new regulations...they'll create the next great run for a bubble where a small handful will make tons of money off other's efforts, and then collapse other's world when the bubble bursts. That's why these banks don't want to keep the money...they fear the government's demanded transparency now that will make evident continued bonuses paid to those creating new financial instruments outside the regulatory scheme.
And the government doesn't want to let go of the big boys until they can run the 'stress tests' to understand what kind of shocks might yet still be down the road, and whether these big players can still bring down the whole system or they'll be okay.
Socialism...sheesh. The world doesn't know what is yet the bottom, nor what the calendar of this recovery will be. Three years, four years? "It's just a correction! Capitalism always has corrections." No one knows how this will change the path of nations, history, and intergroup relations. But sheesh...worship at the feet of the Idol. It's doing such a fricking good job, this private control of the financial markets! Maybe 15-19 million people globally have lost their jobs with this bubble burst.
But the real concern? Shoot...government can't run a business????
Who come's up with these hollow, empty phrases? They should get a marketing award for genius marketing program because so many people go around spouting that ideological emptiness as if it's somehow true, and they know that for a fact!? Fannie Mae and Freddie Mac as evidence? Uhhh...there's already 300 some privately held banks that have closed, and government intervention prevented the complete collapse of the global system y saving many others, especially the big boys who were too big to allow fail...as the failure of Lehman Brothers made evident. How can Fannie and Freddie be offered as evidence for something so glaringly a mess from so many privately-run financial organizations??
Seems to me there are still 2 billion people making less than $2/dy, picking our bananas, cocao, mining precious metals, minerals and gems, and on and on....So...when is this wait for capitalism's 'correction' supposed to happen for the real market of capital...not the little market we see and experience? When will these 2 billion pieces of human 'data' be included in any assessment as to how wonderfully capitalism is ''working?"
The story without the ideological ranting might be more easily read ann understood if you check something with a bit less fabrication out of thin air going on... http://cnnmoney.mobi/money/latest_news/latest_news/detail/135484%3Bjsessionid=E09188A2F3DE3DCA5259E296B1C11A4D.
Sorry for the lenghty reply...sometimes...my goat gets out and runs away... 
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imlost2
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Apr 7 @ 9:34AM
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Thank all of you for your comments, they are interesting and have all points of views here. I consider who the Government is however. They are made up of Lawyers, Senators, Congressmen, and such. People who have been to Colleges such as Yale, Harvard, people with their own agendas, ones running for office the next term and so forth. Also ones that are voted on for the next year or election. When it comes to private business, those people are supporting their families and their only job is to think about their homes. They need not worry about running for elections or pleasing the people or being bought, selling Senate seats, or any other agendas. So I think it's best to let their lawyers who specialize in their own fields handle their businesses and fine, let the Government set regulations since it seems necessary for "failing" banks (that is the subject of my blog) but allow the "successful" businesses run as they have. Why punish the ones that are not broken? My blog is about successful banks not the failed ones. I do agree with being transparent, but then again, don't trash Fox News too much. They sued the Government for a true copy of the Stimulus Package and it was Blackened Out in many areas where the Government didn't want them to see what it actually said. Where is the transparency for all of us to see? Let the Transparency start with our own Government first before they demand it from us citizens as they are the first offenders, like signing a package allowing the bonuses without making it public to us until it happened, then pretending they didn't know. Fox is still sueing for the true copy without the Blackened in areas, we shall see if we get it, what you see online is not the true copy. There is much more in the stimulus that they don't want us to see. Again thanks for your comments, they are insightful. Lost
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imlost2
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Apr 10 @ 8:39AM
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Ok, they finally let a few banks pay back the money. Seems when it was loaned, it was given to these two particular banks that had no problems for them to buy up banks that did have problems. When all the negative press began to happen, and the banks own customers thought they were in trouble, a backlash started and this began to fail for the banks instead of improving business it hurt their business, the banks wanted nothing to do with the plan. Their own customers began pulling money out so the banks said "no way" we don't want in this plan, we will give the money back, forget it Government, you find another way to save these other banks.". The Government did let a few banks recently give the money back but they didn't tell us the whole story, these banks were not in trouble to begin with, and now the story is becoming more and more clear. Thanks for reading. Lost
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TheHoneyBees
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Apr 16 @ 6:54PM
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I found this thread through google. I just signed up to let you guys know about a net video/chat/radio show that ya'll would love. stop by tonight at 6pm pacific time for the live show!
Jesse Woodrow Show
Yesterdays show was all about the federal reserve!
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