Comments on: List of Banks That Took TARP Money http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/ Just another WordPress site Mon, 31 May 2010 17:12:12 +0000 hourly 1 http://wordpress.org/?v=3.1.2 By: Keenan Borke http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-25 Keenan Borke Mon, 31 May 2010 17:12:12 +0000 http://blog.bankaround.com/?p=142#comment-25 Great site you have. Congrats! Great site you have. Congrats!

]]> By: Denise http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-24 Denise Tue, 20 Apr 2010 15:13:40 +0000 http://blog.bankaround.com/?p=142#comment-24 Drew, Your banker probably looked surprised as Wells Fargo was one of the banks that paid back their TARP money in full. It is mostly smaller, regional banks who still have not paid back (outside of AIG) as well as the automobile industry (which no one seems to realize is one of the largest debtors in the TARP program who has not repaid). Are you willing to stop buying or sell your American cars as none of these groups have paid their TARP money back? The problem in the US is that very few people research in detail what is going on despite the information being out there. There are too many people making decisions based on emotion and the watered down "news" that the media provides. Don't let our media drive you to act on emotion without information and logic. I have no association with any bank but am continuously amazed at how easily Americans are led by the media on almost any emotional topic. Drew,
Your banker probably looked surprised as Wells Fargo was one of the banks that paid back their TARP money in full. It is mostly smaller, regional banks who still have not paid back (outside of AIG) as well as the automobile industry (which no one seems to realize is one of the largest debtors in the TARP program who has not repaid). Are you willing to stop buying or sell your American cars as none of these groups have paid their TARP money back? The problem in the US is that very few people research in detail what is going on despite the information being out there. There are too many people making decisions based on emotion and the watered down “news” that the media provides. Don’t let our media drive you to act on emotion without information and logic. I have no association with any bank but am continuously amazed at how easily Americans are led by the media on almost any emotional topic.

]]> By: Gigi http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-23 Gigi Thu, 28 Jan 2010 22:41:52 +0000 http://blog.bankaround.com/?p=142#comment-23 Can someone point to a set of rules TARP Banks must adhere to with respect to shortsales and credit reporting? Can someone point to a set of rules TARP Banks must adhere to with respect to shortsales and credit reporting?

]]> By: Drew http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-22 Drew Tue, 19 Jan 2010 23:04:10 +0000 http://blog.bankaround.com/?p=142#comment-22 I went to our local Wells Fargo Bank and payed off my car loan early then closed my bus. accounts and personal account of a substantual amount. When asked why I closed my accounts I told the teller that I would rather do business with a local bank that did not take the tarp money he acted suprised. What suprised us all is that three others that heard the conversation also closed their accounts as well...small run on the bank? Dont know how many accounts they lost that day due to one person caring where their money went! Go small and go local, if my bus. was going under do you think the gov or Wells Fargo would have helped out? I went to our local Wells Fargo Bank and payed off my car loan early then closed my bus. accounts and personal account of a substantual amount. When asked why I closed my accounts I told the teller that I would rather do business with a local bank that did not take the tarp money he acted suprised. What suprised us all is that three others that heard the conversation also closed their accounts as well…small run on the bank? Dont know how many accounts they lost that day due to one person caring where their money went! Go small and go local, if my bus. was going under do you think the gov or Wells Fargo would have helped out?

]]> By: al toranzo http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-21 al toranzo Fri, 20 Nov 2009 17:51:52 +0000 http://blog.bankaround.com/?p=142#comment-21 I just applied for a loan with Chase.. After being "pre-approved" and they collected my $750.00. I had to "chase" them for a reply. After a two month delay I was denied the loan. I feel I am a victim of fraud, where is the government now, where is the news media to report on this??Look on the net there are many stories that are the same as mine. I just applied for a loan with Chase..
After being “pre-approved” and they collected my $750.00. I had to “chase” them for a reply.
After a two month delay I was denied the loan.
I feel I am a victim of fraud, where is the government now, where is the news media to report on this??Look on the net there are many stories that are the same as mine.

]]> By: Sandra Hill http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-20 Sandra Hill Fri, 07 Aug 2009 11:53:57 +0000 http://blog.bankaround.com/?p=142#comment-20 They took our money through the government and then created new ways to make us pay back the loans we gave them with preditory fees, return check charges, insufficient fund charges, holds on our money until charges accrue. The little guy can't manage his money when the big guy gets to bite it first and as much as he wants to take when he wants to take it. They took our money through the government and then created new ways to make us pay back the loans we gave them with preditory fees, return check charges, insufficient fund charges, holds on our money until charges accrue. The little guy can’t manage his money when the big guy gets to bite it first and as much as he wants to take when he wants to take it.

]]> By: Mellisa http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-19 Mellisa Wed, 08 Jul 2009 04:24:54 +0000 http://blog.bankaround.com/?p=142#comment-19 It should be used to help those in hard financial times. Like credit card forgiveness or mortgage debt forgiveness. These companies received money because people are having hard times why not help those who need it. Why give loans when people can't qualify, or take on more debt they don't need. People need the help not the businesses. i haven't seen any improvement since all these banks received money. There debt is being paid, but what about those on financial hard times who have lost their job or had hard times that where not anticipated. Let's help the little people and not the big businesses. The government bails companies out, what about the true suffering people and not banks. It should be used to help those in hard financial times. Like credit card forgiveness or mortgage debt forgiveness. These companies received money because people are having hard times why not help those who need it. Why give loans when people can’t qualify, or take on more debt they don’t need. People need the help not the businesses. i haven’t seen any improvement since all these banks received money. There debt is being paid, but what about those on financial hard times who have lost their job or had hard times that where not anticipated. Let’s help the little people and not the big businesses. The government bails companies out, what about the true suffering people and not banks.

]]> By: Trish http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-18 Trish Mon, 22 Jun 2009 14:33:17 +0000 http://blog.bankaround.com/?p=142#comment-18 History DOES repeat itself. If you were around and old enough to have seen the real estate bust in the early 1980's you would know that. ARM's weren't a good idea when interest rates were 17% for mortages and they were an even worse idea when interest rates were at historic lows. How stupid and greedy do you have to be to believe that mortage rates would drop below the 4 to 5% range they have been in for several year? We have an insurance agency and we've seen MANY MANY falsified appraisals in the last few years to justify the mortgage given on a property that was never worth what it was mortgaged for. And now, those of us who were responsible and didn't buy more of anything than we can afford will get to pay for it all. YIPPEE!!!!! NOT!!!!!!!!! History DOES repeat itself. If you were around and old enough to have seen the real estate bust in the early 1980′s you would know that. ARM’s weren’t a good idea when interest rates were 17% for mortages and they were an even worse idea when interest rates were at historic lows. How stupid and greedy do you have to be to believe that mortage rates would drop below the 4 to 5% range they have been in for several year? We have an insurance agency and we’ve seen MANY MANY falsified appraisals in the last few years to justify the mortgage given on a property that was never worth what it was mortgaged for. And now, those of us who were responsible and didn’t buy more of anything than we can afford will get to pay for it all. YIPPEE!!!!!

NOT!!!!!!!!!

]]> By: Bank Of America Forced To Buy Merrill Lynch By The Government? « A Conservative Wanderer http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-17 Bank Of America Forced To Buy Merrill Lynch By The Government? « A Conservative Wanderer Thu, 11 Jun 2009 22:32:19 +0000 http://blog.bankaround.com/?p=142#comment-17 [...] Once the government was given the power to interfere in the private business sector, any entity that chose to take government money would be indebted to the government. The government would be able to control an entity, since it would now have a financial stake in that business or corporation. That’s exactly what happened with Bank of America and any other businesses that took money from the government. B of A was forced to do the government’s bidding…or else. They had no choice [Article - List of Banks That Took TARP Money]. [...] [...] Once the government was given the power to interfere in the private business sector, any entity that chose to take government money would be indebted to the government. The government would be able to control an entity, since it would now have a financial stake in that business or corporation. That’s exactly what happened with Bank of America and any other businesses that took money from the government. B of A was forced to do the government’s bidding…or else. They had no choice [Article - List of Banks That Took TARP Money]. [...]

]]> By: Barbara Stanbro http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-16 Barbara Stanbro Tue, 19 May 2009 01:23:56 +0000 http://blog.bankaround.com/?p=142#comment-16 After 28 years as an excellent customer, Wells Fargo has refused us a small line of credit to serve as overdraft protection. Ironically, we asked for this at THEIR suggestion because we are PAYING OFF our home equity line which had previously served that function. After 28 years with nary a missed payment, Wells Fargo cannot trust us with a puny line of credit to protect us from their exorbitant overdraft fees. 28 years--I can't get over it. Now I see that Wells Fargo took $25 BILLION in TARP money--money that they were supposed to LEND to the taxpayers who bailed them out. Unbelievable. The utter gall. We will be closing all of our accounts. If after 28 years, Wells Fargo cannot recognize the value in keeping a trustworthy customer, they deserve to go broke. Please . . . if you are a Wells Fargo customer, I encourage you to follow our lead. After 28 years as an excellent customer, Wells Fargo has refused us a small line of credit to serve as overdraft protection. Ironically, we asked for this at THEIR suggestion because we are PAYING OFF our home equity line which had previously served that function. After 28 years with nary a missed payment, Wells Fargo cannot trust us with a puny line of credit to protect us from their exorbitant overdraft fees. 28 years–I can’t get over it. Now I see that Wells Fargo took $25 BILLION in TARP money–money that they were supposed to LEND to the taxpayers who bailed them out. Unbelievable. The utter gall. We will be closing all of our accounts. If after 28 years, Wells Fargo cannot recognize the value in keeping a trustworthy customer, they deserve to go broke. Please . . . if you are a Wells Fargo customer, I encourage you to follow our lead.

]]> By: DamnBanker http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-15 DamnBanker Mon, 02 Mar 2009 01:51:31 +0000 http://blog.bankaround.com/?p=142#comment-15 I would like a complete listing of every bank nationwide that took any Fed Money, be it TARP of any other money. Where can I get this complete list? I would like a complete listing of every bank nationwide that took any Fed Money, be it TARP of any other money. Where can I get this complete list?

]]> By: Will & Will http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-14 Will & Will Sat, 07 Feb 2009 20:48:18 +0000 http://blog.bankaround.com/?p=142#comment-14 I will be closing my Bank of America account, and putting it in a more responsible bank. I recommend others do the same. I will be closing my Bank of America account, and putting it in a more responsible bank. I recommend others do the same.

]]> By: Peter Burke http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-13 Peter Burke Fri, 23 Jan 2009 16:51:15 +0000 http://blog.bankaround.com/?p=142#comment-13 Pigs get fed ,hogs get slaughtered. People should remove their money from the greedy banks(hogs which fed at the tarp) and deposit their money at banks that are frugal.------all banks are swine. Sane people do not reward hogs, they slaughter them. Be sane, people!!! Pib Pigs get fed ,hogs get slaughtered. People should remove their money from the greedy banks(hogs which fed at the tarp) and deposit their money at banks that are frugal.——all banks are swine. Sane people do not reward hogs, they slaughter them. Be sane, people!!!

Pib

]]> By: Alan Reynolds http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-12 Alan Reynolds Wed, 21 Jan 2009 21:03:35 +0000 http://blog.bankaround.com/?p=142#comment-12 Investors need a list of financial institutions that did NOT drink the TARP cool aid. There is too much political risk involved in investing in firms in hock to Uncle Sam. A bank analyst on CNBC suggested three ticker symbols of TARP-free firms-- PBCT, TSF AND FHN. Needless to say, their stock performance far exceeds that of the leading TARP victims -- BofA, Citigroup and AIG. If the government expects private investors to ever again supply equity capital to the financial sector, Treasury will have to stop "helping" such firms with preferred shares (essentially just more debt) and warrants (potential dilution of EPS). TARP's so-called "capital infusions" pushed common stockholders to the back of the line, scaring capital away. The net effect of public capital crowding out private capital has probably done more harm than good. Investors need a list of financial institutions that did NOT drink the TARP cool aid. There is too much political risk involved in investing in firms in hock to Uncle Sam.

A bank analyst on CNBC suggested three ticker symbols of TARP-free firms– PBCT, TSF AND FHN. Needless to say, their stock performance far exceeds that of the leading TARP victims — BofA, Citigroup and AIG.

If the government expects private investors to ever again supply equity capital to the financial sector, Treasury will have to stop “helping” such firms with preferred shares (essentially just more debt) and warrants (potential dilution of EPS).

TARP’s so-called “capital infusions” pushed common stockholders to the back of the line, scaring capital away. The net effect of public capital crowding out private capital has probably done more harm than good.

]]> By: Pecuniarities http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-11 Pecuniarities Mon, 19 Jan 2009 14:01:52 +0000 http://blog.bankaround.com/?p=142#comment-11 <strong>Carnival of Personal Finance No. 188: The Jane Austen Edition...</strong> Welcome to the 188th Carnival of Personal Finance! Our theme for this week’s edition is Jane Austen, as I am a admirer of both her novels and the films based on her novels, which are graced throughout with witty commentary on society — and in ..... Carnival of Personal Finance No. 188: The Jane Austen Edition…

Welcome to the 188th Carnival of Personal Finance! Our theme for this week’s edition is Jane Austen, as I am a admirer of both her novels and the films based on her novels, which are graced throughout with witty commentary on society — and in …..

]]> By: James http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-10 James Thu, 08 Jan 2009 20:42:50 +0000 http://blog.bankaround.com/?p=142#comment-10 History usually repeats itself. It's just a matter of how long until the next mess. History usually repeats itself. It’s just a matter of how long until the next mess.

]]> By: Lorrie http://blog.bankaround.com/2009/01/list-banks-took-tarp-money/#comment-9 Lorrie Wed, 07 Jan 2009 16:25:55 +0000 http://blog.bankaround.com/?p=142#comment-9 The sad thing is I don't think anybody is going to learn a lesson from this mess. Whether it's now or five years from now, the banks will turn around and just start making stupid loans again that people can't afford. So not only will people go into more debt, but taxpayers will have gone into debt to allow people to go into debt. THAT MAKES SENSE!!! The sad thing is I don’t think anybody is going to learn a lesson from this mess. Whether it’s now or five years from now, the banks will turn around and just start making stupid loans again that people can’t afford. So not only will people go into more debt, but taxpayers will have gone into debt to allow people to go into debt. THAT MAKES SENSE!!!

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