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Asking Your Government To Pay BACK Loans

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Bloviating Zeppelin: Asking Your Government To Pay BACK Loans

Bloviating Zeppelin

(in-ep-toc'-ra-cy) - a system of government where the least capable to lead are elected by the least capable of producing, and where the members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.

Monday, April 27, 2009

Asking Your Government To Pay BACK Loans

Fornicalia Representative Tom McClintock (hey, my district!) has had to draft a bill to force the Secretary of the Treasury to accept repayment, by banks, of TARP funds.

Mr McClintock said:

Mr. Speaker: Many Americans have been shocked in recent days to learn that banks seeking to repay TARP money have been told the treasury will not allow them to do so.

Taxpayers were promised that this money was only to be used to buy up toxic assets and that it would be repaid to the treasury as soon as humanly possible.

And yet, when several banks have attempted to do precisely that, they’ve been told that the treasury will not allow them to do so.

This is a travesty. Just a few weeks ago, many members of this House reacted to the AIG bonus fiasco by saying, “We want our money back.” And yet when some banks have attempted to do just that, they’ve been turned away at the treasury gates.

M. Speaker, today I have introduced legislation to require the Secretary of the Treasury to accept TARP repayments unconditionally and immediately when they are presented. I hope that I can count on the support of all those who promised constituents these funds would be repaid at the earliest possible opportunity.


Did you ever think you'd see the day there would have to be a bill requiring the federal government to accept loan paybacks? This merely indicates the issue isn't about the ability of an agency or entity to repay; it's about the federal government insisting that it keep control of the agency or entity requesting the funding in the first place.

Agencies and entities deciding, on their own, that the don't care for the strings attached to these loans.

BZ

11 Comments:

Blogger Mahndisa S. Rigmaiden said...

04 27 09

BZ:
This is the day when hell seems to have frozen over. I just don't get it. Well I do and that is what's scary. They don't wish to accept that money because it is all about control. They have something to hang over these businesses. To be honest with you, I don't believe TARP shoulda ever existed AND I don't believe that businesses with integrity should have accepted TARP funds in the first place.

However, when the debtor wishes to pay back the lender usually the lender will accept payment. Our government is showing its ass as the radical communist entity that its evolving into, scary but fairly obvious.

Mon Apr 27, 09:55:00 AM PDT  
Blogger Carlisleboy said...

Kudos to your Congressman..........even if he is a DemocRAT. Nice to see one that is not Brainwashed into total subservance to the Obamanation.
As to the main focus of the article, it all comes down to control. If the Socialists are not stopped soon it will be almost impossible to dig them out of their trenched later........especially once they have created a new slave class dependant on GVT handouts. Disgusting!!

Mon Apr 27, 10:21:00 AM PDT  
Blogger Bloviating Zeppelin said...

It IS COMPLETELY about the control holding these repayments at arms' length provides. These entities are being held, essentially, in REVERSE hostage -- purposely SO that the loans can be held over their heads to continue the controls.

BZ

Mon Apr 27, 10:21:00 AM PDT  
Blogger Bloviating Zeppelin said...

Ooooooh, CB, Mr McClintock is NOT a Demorat. He is a died-in-the-wool fiscal REPUBLICAN genius.

BZ

Mon Apr 27, 10:22:00 AM PDT  
Blogger TexasFred said...

1. Some folks need expand their political knowledge a bit, or keep their yaps SHUT...

Now, you asked" Did you ever think you'd see the day there would have to be a bill requiring the federal government to accept loan paybacks?"

Did you ever think you'd see a day when the U.S. government was run by such idiots?? Did you ever think you'd see a day when bone smokers were even remotely considered be Conservative?

Did you ever think you'd see a day when the so-called Religious Right would accept the bone smokers?

I make NO apologies to anyone for my feelings concerning the *christian* aspects of homosexuality and Christianity as well as the way that lifestyle associates with Conservative politics...

Mon Apr 27, 10:51:00 AM PDT  
Blogger Ron Russell said...

It makes good business sense for the government to accept repayment of the loans, but then whenever has the government had good business sense---never. True is, they want to keep their big foot in the door. Its all about power and control and politics.

Mon Apr 27, 01:30:00 PM PDT  
Blogger shoprat said...

The only repayment those crooks want is stock options.

Mon Apr 27, 02:51:00 PM PDT  
Blogger Maggie M. Thornton said...

This is definitely a control issue, and perhaps all about Obama's deep seeded desire to own common shares.

The healthy banks attempting to repay the funds manipulatively forced upon them, will not be among those failing the stress tests, but "perception" is everything. To stay healthy, these banks need the ability to get this money off their books and then boast about it.

Mon Apr 27, 05:59:00 PM PDT  
Blogger A Jacksonian said...

That bank in Minnesota was able to pay all of TARP back, but was forced to take a hit on dividends to do so... the bank complained as they didn't want the money, didn't need the money, and thought what the government was doing was asinine. Plus they make a profit, which is proving to be a sin in Obama's view.

It is well past time to get the government out of banking... just the way President Jackson left it.

Mon Apr 27, 06:52:00 PM PDT  
Blogger Z said...

seems right on schedule to me.....we're just now OFFICIALLY insane as a country. Certifiably.

OH, if McClintock had ONLY become governor.

and OH, if Arnold had ONLY not hired the extreme lefty San Francisco woman for Chief of Staff. I swear it was the day after that he went stupid.

And ya...ol' Tom is a total fiscal and social CONSERVATIVE.

Mon Apr 27, 09:46:00 PM PDT  
Blogger A Jacksonian said...

And now, of course, the government is taking over GM, shafting the private investors, and rewarding the UAW... plus has secretly been strong-arming Bank of America to do the bidding of the Fed and Treasury.

Accept the money, or else.

Dump the money on the Treasury steps, if worse comes to worse, but these banks and institutions need to get out, pronto.

Tue Apr 28, 06:34:00 AM PDT  

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