"But here’s the rub: In section 5.3 of the agreement there is language that says if Congress wants to put new conditions or requirements on the banks, those new terms can be applied retroactively to banks who took the money." [1]
It’s worse than they think. Doom’s very own Igor has been seconded to Kashkari’s team to think up devious after-the-fact conditions. We’re really going to miss him, especially since he’s already made off with most of the fun toys from the dungeon 
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[1]: "Is TARP Really a TRAP?", by Amy Barrett, MarketWatch, November 19, 2008.
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i don’t see the issue? maybe everyone lining up for the handout will take a step back and think about it. if they don’t want to be restricted…..don’t take the money! if you NEED the money then my guess is you’ve done some stupid stuff and could use a babysitter????
Tarp is a trap for taxpayers.
John-
There goes my plan to turn us into a bank so we qualified for the funds.
I was working on a slogan, but the best I could come up with was, Bank with us and your money is DOOMED.
Oh well, it would have been tough to install a drive-thru window in the castle wall anyway.
Free markets are long gone. At least the Glass/Steagall Act put very strict regulations/stipulations on banks for bailing them out. What the heck is this???
Igor say “outraged”
surak,
i beleive you hit the nail on the head!!!! i’ve never understood why more people have not blamed this whole mess on the repeal of the glass/steagall act???? in my opinion you can trace this entire mess back that. with all the finger pointing and blame gaming, it floors me that we don’t here anyone discussing the possibilty that this could have been avoided if that act was left alone???? i guess maybe democrats don’t want to bring it up because it happened under clinton and republicans don’t want to bring it up because it was their congress that did it??????
AZ,
politics is becoming a 4 letter word prefaced by bull. i would like to see accountability for all politicians. when that happens we actually might get back to being the greatest nation ever
Thanks AZSLUKI,
If the politicians would have left the act in place, we would not be in this mess. What is really frustrating is that the powers at be are not reinstating the act.