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| Subject: | | They were given TARP money not to fail and they did anyway |
| From: | |
N. Mihalos
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posted
Tue, Nov 3 2009, 10:14am
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Now it starts with not paying back TARP interest, then out they go.
CIT was the 5th largest of the failures so far, but it doesn't seem to be over or getting any better. Though they did ask for more and were denied.
But it was a prepackaged bankruptcy, which means they're still doing business and will be back soon though the common and prefered shares were wiped out.
Taxpayers lose $2.3 billion on CIT. Expect more TARP losses. - Nov. 2, 2009 |
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| Subject: | | Re: They were given TARP money not to fail and they did anyway |
| From: | |
Cisco
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posted
Tue, Nov 3 2009, 11:00am
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Every "tarp investment" is a bad deal. The bad banks should have been allowed to go under. Even if they did threaten us with a depression.
"Save Us, or we're taking you down with us" |
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| Subject: | | Re: They were given TARP money not to fail and they did anyway |
| From: | |
ConstantReader
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posted
Tue, Nov 3 2009, 6:16pm
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I work for a bank that took TARP funds and paid some, not all, back. So far.
I agree with you, Cisco. If it is a failing bank, or any other business, it should just be allowed to fail. That's free enterprise, right? If you cannot run your business successfully, making a profit after paying your employees, then you should not be in the business.
As I said before, if businesses fail, new smaller businesses will move in. Maybe even providing new jobs for those out of work because of the failed business.
But then again, I could be way off base. Just my opinion. |
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