'We didn't want the money. Paulson MADE us take it'

[denem]

There are no words adequate to describe these wriggling slimy maggots now unable to stomach an pittance of regulation for their billions. Well boys and gals, regulation is coming whether you like it or not. You just don't get it.

Reuters: Goldman Sachs' speed to repay TARP may spur others

... Some banks regret participating in TARP, including Wells Fargo & Co, which took $25 billion it did not want because former Treasury Secretary Henry Paulson told it to.

Some of the vitriol results from a rule that lets the government unilaterally impose new restrictions.

It did that last month by capping executive bonuses, and could do so again once the Senate considers the fate of AIG bonuses. Last week's House of Representatives bill setting a 90 percent tax would also hit bonuses for thousands of workers at other banks nationwide, a form of guilt by association that banks say would cause good employees to flee.

"Is this America, when you can do what your government asks you to do and then retroactively you also have additional conditions put on?" Wells Fargo Chairman Richard Kovacevich said on March 13 in comments at Stanford University.

http://www.reuters.com/article/reutersEdge/idUSN2437529920090324?pageNumber=2&virtualBrandChannel=0

It's not a 90% tax they are bitching about. The House Bill is going nowhere, it's any regulation, especially, of their precious bonuses. Fuck you. The public have had ENOUGH. Deal with that.

[aquart]

1. Fine. Every dime. Every single dime.

And then we had better find a way to regulate their greedy, fraudulent asses anyway. Economy-killing thieves.

[tbyg52]

3. Including what was funnelled to 'em through AIG. nt

[notesdev]

2. Believe it or not they are telling the truth on this one

Paulson frog-marched the heads of all the major banks into a room and forced them to sign on, under the theory that if they didn't ALL sign on, it would reflect badly on the ones who actually do need the money. It was a really fucked up situation, and is quite well documented.

[On the Road]

4. Thank You

I didn't know exactly how it happened. There was also the element that the money was designed to increase lending, not just salvage companies that were going under.

Executive compensation needs to be brought under control. But this bill was not the way to do it. I agree with the point Wells Fargo is making.

[deminks]

5. What about the money that AIG gave them as a counterparty? Hmm?

Who forced them to take that $13 billion? Was it...wait for it...SATAN?

http://money.cnn.com/news/newsfeeds/articles/djf500/200903241739DOWJONESDJONLINE000626_FORTUNE5.htm

[MichiganVote]

6. Heartless bastard that Paulson. He didn't make me take damn dime.

[rucky]

7. I wonder if TARP allocations match Paulsen's stock portfolio.

Call me a tinfoil, but the trust just isn't there for me.

[notesdev]

8. He didn't have one

He divested fully - to the tune of $500 million, TAX FREE - when he became Treasury Secretary, according to law.

$500 million of what, you ask? Goldman Sachs stock.

Guess who gets paid off in every last one of these sordid deals that rape the taxpayer?

[seafan]

9. Paulson needs a subpoena.

Reuters, March 24, 2009

.....

"If you're a fairly well-capitalized bank, you don't want the government looking over your shoulder," (Jerry Blanchard, a partner in the financial institutions practice at Bryan Cave LLP in Atlanta) added. "Many of these banks also get upset getting painted with the same brush as larger investment banks that caused some of the problems."

.....

Some banks regret participating in TARP, including Wells Fargo & Co (WFC.N), which took $25 billion it did not want because former Treasury Secretary Henry Paulson told it to.

.....

Paulson forced all the banks to take TARP funds (to hide from the public which ones were in trouble), February 15, 2009

[DebbieCDC]

10. In this economy those "good bank employees" arent' going to flee ANYWHERE

Unless they have a stash of $$ in the Caymans.