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Originally Posted by crockett [I]s Bank of America on a repayment plan? Are the other financial institutions on a repayment plan for their bail outs? Umm na I didn't think so. They took the money and gave their CEO's raises and continued to fuck the tax payers in the ass with out even giving the average Joe a reach around. ...

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The Treasury on Wednesday said the banks repurchased TARP investments with proceeds to taxpayers totaling about $475 million. TARP was created in 2008, with its Capital Purchase Program set up for banks hurt in the financial crisis. Through the repayments announced Wednesday, as well as dividends and interest, taxpayers have recovered about $244 billion of the $245 billion in TARP funds disbursed to banks, the Treasury said. The Treasury currently estimates that bank programs within TARP will ultimately provide a lifetime profit of nearly $20 billion to taxpayers The six banks that repaid their TARP funds Wednesday are: Fifth Third Bancorp of Cincinnati; National Penn Bancshares Inc. of Boyertown, Pa.; Lakeland Bancorp Inc. of Oak Ridge, N.J.; Stockmens Financial Corp. of Rapid City, S.D.; Bridge Capital Holdings of San Jose, Calif.; and Heritage Bankshares of Norfolk, Va. http://online.wsj.com/article/SB1000...438418336.html

They were to use those funds to "unfreeze" the lending market that the Big Banks fucked up with their own poor lending practices in the first place, being kind here and not making any criminal allegations ...

So, the real problem is that the Big Banks took the TARP monies, just sat on the money and fiddled while Rome burned then patted themselves on the back and gave themselves a raise ...

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Originally Posted by crockett GM on the other hand gave the govt share in it's stocks and has a repayment plan in place and GM has paid nearly half what they received back.

GM went bankrupt and in the process made its common stock worthless.
Apart from institutional investors (Pension Funds, Mutual Funds (many holding IRA and other tax differed income of individuals)) many GM union and salaried employee-investors had the value of their company stock rendered valueless and what they though to be retirement savings -- wiped out. These employees reinvested their earnings in 401K supported purchases of their employer's common stock -- meanwhile ...

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Investors holding bonds in the old General Motors Corp. will receive stock and warrants for shares in the new General Motors Co. (GM) on April 21, an action that analysts said may depress the stock price. http://www.bloomberg.com/news/2011-0...ess-price.html

All of this was 100% legal and had no US taxpayer funds been involved is would just be another "business as usual" event. However, when the bankrupt business gets financial assistance with taxpayer funds to reorganize in bankruptcy court the financial losses of all citizens should be equitable -- every one get shafted the same ...