Skip to comments.SCREW THE TARP ACCEPTING BANKS
Posted on 03/25/2009 2:00:07 PM PDT by iThinkBig
This is the list of every bank that has taken $100 million or more TARP funds. There are 8,000 banks that have not taken TARP funds. Let's reward these banks with our deposits. They did not make systematic risk bets. They were prudent in their lending. They should be rewarded for these actions. The list of banks below should be punished for their actions.
If you have money in one of these banks, consider a withdrawal to put in a non-TARP bank.
(Excerpt) Read more at theburningplatform.com ...
Not congress? Ha ha ha ha ha.. now that is funny...
Won’t matter once Lord Zero decides those banks not accepting money are a threat and seizes them.
Stop using credit cards from these banks too, even if you pay it off each month. They still get the transaction fees. Screw ‘em.
Credit unions are fine, no trouble at all. They didn’t and don’t do crap loans.
Capital One is in the list. They blew all their money on those stupid commercials.
Not all banks wanted TARP funds. In several instances, the government forced the banks to accept TARP funds. So I’d be careful in refusing to use certain banks. Then again, that is your right.
Some banks such as PNC were arm-twisted by the feds into taking TARP funds and buying problem banks to bail them out. So you have use a rifle here, not a shotgun.
Sovereign moved in, took over, and completely disrupted my accounts with their clumsy on line banking and monolithic Byzantine policies. They were horrible to deal with in many ways.
I went to a credit union that I had been using for a number of years for a small savings account. Great move on my part.
The big banks deserve what they get at the end of this mess. I assume that it will not be pretty for them.
Credit unions aren’t as fine as they like people to believe.
Yeah they sent in Ninjas and “forced” them to take the money.
JP Morgan was arm-twisted into taking the TARP money and they are going through the application process for repaying it... yes... you have to APPLY to repay.
When we moved to Vermont, I put my money in a local bank.
My chief reason was that I had been stung twice earlier, by having accounts in banks that were taken over by large conglomerate banks. The personnel changed, service deteriorated, and they started getting mean about things like our kids’ small savings accounts.
So, I chose a bank that has several branches around this area, but is local. And so far I have been very happy with it.
A lot of the trouble was caused when all the limits were removed and banks started gobbling each other up and growing like giant funguses.
Exactly, some where forced to so people didn’t perceive the ones that took the TARP funds as being in unusually bad trouble, thus investors would bail on those for the ones that didn’t take funds...
IE, not only did the Fed interfere with the market, they did everything in their power to stop the market from working the way it should.
Sorry honey, I was forced to have sex with that stripper!
That’s what I’ve heard.. JPMChase wants to get out of that Devil’s deal as fast as they can.
The SCARLET “T”
From what I’ve heard, the big banks were “encouraged” to take the TARP so that there wouldn’t be a bad perception for those that really needed it. I’m not defending that... I’m just reporting what I’ve heard.
Jamie Dimon ain’t happy
May I suggest BVVA Compass. ( yeah, I know its a Spanish bank)
All may feel free to steal it from me.
No, there were no ninjas needed, there was oppressive government regulation instead. Perhaps you should read up on it. You’ll find there were several banks on the TARP list that were strongly opposed to TARP funding.
HAHAHAH. That is hillarious!
As others have commented, certain banks were forced by the feds to take the money. Wells Fargo, for example, has suspended or reduced dividends in order to pay the TARP money back as soon as possible and get the camel’s nose back out from under the tent. (Of course, in the banking world that is never completely possible as you are always subject to the regulators.)
The first bank out with a “we don’t have tarp money” commercial is going to be very successful.
(it is going to make barney frank fume.)
I like the idea, but only applied to banks that asked for TARP funds. Those like J.P. Morgan Chase that got browbeaten and threatened into taking them by Paulson, shouldn’t be twice victimized, once by the government forcing them into a situation where the government has de facto partial control, and a second time by those of us fighting that action.
As for the rest of them, screw them, pull your money, stop using their credit cards, and if feasible refinance your mortgage at with a non-TARP (or at least unwilling TARP) bank (if you won’t lose money doing it).
I would be cautious of small banks, the FDIC can just come in and claim they are insolvent and take them over.
Unless you are the accountant there, who would really ever know.
I would rather stick with the big banks that still have a little pull left and are planning on returning TARP funds, they are the only ones standing in the way of a nationalized bank system — if they go under it won’t matter anyway.
An officer at the bank we use is quite proud that they didn’t make stupid loans and have nothing to do with TARP.
I did just what you suggested about a week ago. Screw W**** F****.
Believe everything you read on the internet??? If so I have a bridge for sale. Cheap.
Does that work????
There were some banks who were strong armed into taking this money by Paulson.....
Not all but one is too many and an example of a blatant abuse of power by an unelected official.
Like I said, read up on it. Wisconsin One, TCF, and US Bank all refused TARP funds. There are numerous other regional banks as well.
Gotta go, I hear someone just got video of Bigfoot and the Loch Ness Monster together.
I really like Wachovia’s online banking system. I think I will stay with Wachovia.
You might want to rethink choosing online convenience over financial stability.
Don’t see Charter One or ING on the list. Guess I’m going to have to unload my AMEX/Costco card.
As others have pointed out, your anger is misplaced.
Wells Fargo was one of the banks that was arm-twisted into accepting TARP funds. They didn't ask for it, and they didn't need it.
But, the Treasury Dept. wanted to avoid the perception that only some banks were "in trouble" and needed the funds. To avoid a run on those banks (and exacerbating their very real problems), the other banks were "convinced" to accept bailout funds they didn't need.
May these banks die.
Wachovia has since been rescued by Wells Fargo. Wells Fargo is trying hard to pay back TARP funds they accepted to rescue Wachovia.
That is classic, if you somehow mess up and have a $100 check, a $35 check, a $25 check and a $20 check all show up on the same day and you only have $85 in your checking account, they will cash the $100 check first, ding you an overdraft for that one, and then get you 3 more times for the other ones, instead of cashing the first 3 checks that came to $80 and then bouncing the $100 and hitting you with only 1 overdraft fee. There’s a special corner of hell for sleazy bankers.
Why would they have to be working hard to repay it if they didn't need it in the first place??? Shouldn't this TARP money still be readily accessible to return???
And Wells Fargo did not get TARP money for buying Wachovia.
The Wells Fargo agreement calls for the complete merger of Wells Fargo and Wachovia with no federal assistance. Wells Fargo said it will acquire all of Wachovia's businesses, including its debt in a "stock for stock" transaction. As part of the deal, Wells Fargo, which is based in San Francisco, would gain control of all outstanding shares of Wachovia's common stock. Wachovia is based in Charlotte, N.C.
I have used my credit union for 30 years. Why would I change to a bank? I was with them before they started checking accounts.
Wrong. TARP wasn't the only reason I dumped Wells-Walkoverya.
Oh yes, a pox on them.
I loved that they pulled out my money a couple of days in advance of the transfer so they could make away with my money.
They had all sorts of tricks to take my money. Better to deal with payday loan people then these large banks.
why did they take them then?
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