Government forces banks to take TARP funds.

[burniegoeasily]

http://foxforum.blogs.foxnews.com/2009/04/02/napolitano_fdic/


"
The FDIC "” with Treasury backing "” threatened to conduct public audits of his bank unless his board created and issued a class of stock for the Feds to buy. The audit, which he is confident his bank would survive, would cost it millions in employee time, bad press, and consequent lost business.
He pleaded with the Feds to leave his successful bank alone. He begged his board to let him tell the Feds to take a hike. But they gave in. The Feds are now just a tiny shareholder, but want to begin asserting more and more control. This is a classic extortion: Controlling someone"™s free will by threatening to perform a lawful act. (Blackmail is the threat is to perform an unlawful act in order to control someone else"™s free will.) There are no exceptions in the statutes prohibiting extortion for government persons"

[stealthycat II]

you say "government" ....... you meant Obama

[burniegoeasily]

http://www.cfo.com/article.cfm/13396106

[etothepii]

States and banks are rejecting bailout money ... is this what dems call leadership?

[burniegoeasily]

ORIGINAL: etothepii

States and banks are rejecting bailout money ... is this what dems call leadership?

Its called a government take over. Obama wants to socialize. To do so cannot leave room for independent banks. The government cannot afford private banks to pull from their power so they have to force themself on the banks that did right. Isnt this similar to what the mob does?

[Doe Dumper]

ORIGINAL: etothepii

States and banks are rejecting bailout money ... is this what dems call leadership?

The states that are trying to refuse the bailout money are also getting their arms twisted heavily. I wonder iftheres a possibility the SCOTUS would possibly uphold the 10th amendment if the case came before them. I know Clarence Thomas would but I wonder if any of the others would.