Put the money back? Goldman Sachs wants to pay back the bailout money

[havocmom]

http://money.cnn.com/2009/02/06/news/companies/goldman_tarp/index.htm?postversion=2009020604

NEW YORK (CNNMoney.com) -- Some major financial firms are getting anxious about giving back the billions in U.S. government rescue funds they took hold of late last year. But it may not be that simple.

David Viniar, Goldman Sachs' (GS, Fortune 500) chief financial officer, made headlines Wednesday when he voiced that very sentiment to attendees of a Credit Suisse conference, saying it would be easier for the company to run its business if it could pay back the $10 billion in capital it received from the government last fall.

And in a statement to CNNMoney.com Thursday, Bank of New York Mellon (BK, Fortune 500), which received $3 billion last year, said it was looking to redeem the government's investment "as soon as is practical."

These comments come at a time when public distaste for the nation's banking industry is boiling over. Taxpayers are seething over the fact that major financial firms continue to pay lavish bonuses and make seemingly frivolous purchases after getting government aid.

So, they have a President who knows he won the election and We The People want accountability... Now they suddenly don't need the money (if it comes with oversight and regulations)?

My mind keep flashing to the Battlestar Galactica trailer where the pissed President shouts "I'm coming for all of you!"

Next week is shaping up to be interesting considering this week's Friday News Dump!
:popcorn:

Edited to remove extraneous line, out of text box, from the quoted source

[wryter2000]

1. Interesting

I guess they didn't really need it all that much. I think we ought to let them return it. We can use it for the stimulus package.

[ColbertWatcher]

18. Jobs Bill. They should return it because we need it for the JOBS BILL. n/t

[wryter2000]

19. Right

Thanks. I will edit if the time hasn't past.

[Johonny]

2. sounds to me like Obama's plan is already working

We want these bailed out companies to want to pay back the money. Hence putting in reasons to do so.

[havocmom]

3. Shall we wait for the Obama bashers to step forward and admit it might be working?

We won't hold our breath waiting for them to admit they were hasty though, will we? ;)

[calimary]

4. They're probably starting to realize there will be pain imposed on them in exchange

for handing them a big bailout. Maybe that salary cap for top executives is what did it? Maybe they're growing concerned that there will be more consequences as consumers/voters grow more angry?

But why SHOULDN'T there be strings attached? Don't they attach all kinds of strings when they loan out money? Or do they just hand that money over to customers out of the goodness of their hearts? Why shouldn't it work both ways?

[firedupdem]

5. They don't want it if they can't do what the hell they want with it...

I'm thinking oversight is a good thing! 20/20 is doing a piece tonight with some DC Madam who plans to expose these assholes for using corporate credit cards for their freaky deaky parties!

"Huntin ain't no fun when the rabbit has the gun!"

Pay the money back you assholes!

[liberal N proud]

6. Don't want to be caught with their hands in the cookie jar

when it is discovered that the 2007 bailout was nothing more than a robbery of the treasury.

[havocmom]

9. Hands in cookie jars and dicks in nookie jars

They are SO busted! Here is thread on the madam who says they were billing fancy women on the ol corporate charge cards:
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4994097&mesg_id=4994097

Divorce Attorneys in New York just got their stimulus package! :rofl:

Thinkin' some trophy wives won't put up with husbands who pay to play AND are looking to make only $500,000 a year!

[liberal N proud]

14. It was a "stimulus package"

[havocmom]

16. A GOP version of stimulus package. Obama's version to create jobs show there are differences

GOP package = Money for more of the same bad behavior by the same corporate criminals

DEM package = Money for all sorts of people, not just the 1%ers

[liberal N proud]

17. The stimulus for the banks was the largest robbery in history

[Vinca]

7. They want to pay it back so they can continue spending like

drunken sailors on parties, limos, retreats, bonuses and the like. I say we accept the money back - with interest - and wish them luck.

[Frustratedlady]

8. Is this because of the ABC news tonight at 10:00?

We need that list of who got what and what they did with it. Forget "national security" -- whatever did that mean, anyway?

They want what they want without rules.

Sorry, Charlie! The people are pissed and guess who they are aiming at.

[BattyDem]

10. But I thought they were broke ...

I thought they were on the verge of bankruptcy at the brink of collapse!

I guess they lied. To the federal government. To get money.

Isn't that a crime? :shrug: :mad:

[havocmom]

11. maybe the money bottle neck cleared up when they stopped putting hookers on the ol VISA?

:shrug:

Hearing about a $500,000 earnings cap prolly did damage that no $2000 an hour specialist could fix.

[jwirr]

12. Now that they realize that corporate welfare has strings they do not

want it. The whole thing was a sham in the first place - just another way for *ss & co. to hand out taxpayer money to his friends. Now that President Obama and is people are going to make the rules they want out.

[williesgirl]

13. Hey fuckers, pay it back NOW with interest. No more funds for banks or Wall St. rec'd

[4 t 4]

15. Yea pay it back Now

I guess it's to hard to rip off your company when everyone is watching Pay It Back Now!

[havocmom]

20. kick for the night shift

[David Zephyr]

21. Interesting development.

Thanks for the posting.