TARP was one of those cases when doing nothing was immensely preferable to doing the wrong thing.
My congressman voted against TARP both times and the NRCC threw him overboard as a result.
He won the primary this year by nearly double the votes of his nearest challenger. The NRCC is doing some serious butt kissing this year.
The simple fact is that they GOP has to start somewhere and this is a start that they must be forced to complete. Too many FReepers have decided that the change must be immediate and painless. That’s simply idiotic.
Its going to take all of us and its going to take decades. Two choices, the democrat way or the hard way.
Four banks refinance TARP funds
By: Steve Daniels September 27, 2010
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Private banks chase cash
(Crain’s) — The first of the Chicago area’s small banks that got bailout funds from the federal government are paying the money back.
But the news isn’t as good as it first appeared: The four small lenders that recently redeemed preferred shares they issued to the Treasury Department under the Troubled Asset Relief Program have effectively refinanced into a cheaper federal bailout program.
The four all are designated as community development financial institutions — institutions that lend to low-income or underserved communities or individuals — and have transferred their original TARP funds into a new, lower-interest program to provide federal assistance to CDFIs.
http://www.chicagobusiness.com/article/20100927/NEWS01/100929901/four-banks-refinance-tarp-funds