Another indication that the government is becoming a heavy-handed player in the private financial industry came today when the President of the ABA (American Bankers Association) Edward Yingling in a letter to Treasury Secretary Henry Paulson complained that some of his membership are being "strong armed" into participating in the Government's TARP operations.
Mr. Yingling has stated several times during Congressional hearings and investigations that many of the small to medium sized banks and bank holding companies are doing just fine and don't need nor want the government's money. He complained that the Treasury should "back off" and let these banks determine on their own if they want to participate or not.
Well! I can't believe that! Mr. Yingling, how dare you not take a government hand-out when offered! ;-)
On a related note, the Treasury Department is not releasing the list of banks and institutions that have or are going to participate in the TARP operations for "fear of stigmatizing..." the institutions.
Again, well, I can't believe that anyone would think that. And the beat goes on towards the USSA.
5 more days until the beginning of the USSA.
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