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Tarp Replayment by Citigroup - 12/15/2009 7:12:25 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		Again, we see the financial segment showing more concern over salaries and bonuses than to the business they are supposed to be running.


Veteran analyst Richard Bove of Rochdale Securities, who had been recommending Citi's shares since the summer, downgraded the stock on news that it was going to repay TARP from a "buy" to a "sell" rating. "What does it do for the company? Management can increase [executive] salaries," says Bove, referring to the fact that Citi will now be free of the government's compensation rules. "What else? Nothing."

Indeed, Citi's shares fell on the news that it was repaying TARP, down $0.27, or nearly 7%, to $3.68 a share.

Citi's deal to pay back the government was reportedly hashed out over a week's worth of marathon negotiations following Bank of America's repayment last week of $45 billion in government assistance. Citi did not want to be one of the few remaining big banks still using the government's crutch.


Read more: http://www.time.com/time/business/article/0,8599,1947625,00.html?xid=rss-topstories#ixzz0Zol1blS5


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RE: Tarp Replayment by Citigroup - 12/15/2009 7:18:16 PM   
DomImus


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quote:

ORIGINAL: tazzygirl
Again, we see the financial segment showing more concern over salaries and bonuses than to the business they are supposed to be running.


A little over a year ago people were complaining because banks were bailed out. Now people are complaining because because the same banks are returning the bailout money. Again, this is not about bailouts but it is instead about control. One more bank that the government cannot control.


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RE: Tarp Replayment by Citigroup - 12/15/2009 7:21:07 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		LOL.. just realized how i spelled repayment in the thread. Oh well!!!

I have no problem with them repaying the money. None at all. My concern is that even the experts think they arent fiscally ready to do so. And i dont see it as an issue of control. I see it as laying down ground rules, the same any lender might, until the money is repaid.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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RE: Tarp Replayment by Citigroup - 12/15/2009 7:39:13 PM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		That's bullshit. All they have done is take the money from AIG, which the government gave to AIG and then AIG paid those liabilities, credit default swaps, so then the banks have the AIG money and they pay back that money to the government and have done nothing to earn it. It's absolute garbage and Obama and the Democrats and the Republicans are both corrupt and are to blame.

I can't believe THAT FUCKER FULD got paid $45 million for his absolute stupidity being asleep at the wheel letting AIG become insolvent. Absolute moron!

As far as I'm concerned, THE BANKS HAVE NOT PAID BACK A DIME OF TARP MONEY, all they did was take the government money AIG received and then AIG gave it to the banks and the banks then gave it back to the government. THE BANKS GAVE THE GOVERNMENT BACK ITS OWN MONEY and Obama and Bush and Democrats and Republicans are both to blame.

The banks have not paid back a dime, it's just musical chairs with taxpayer money. You could figure it out just by taking accounting 101. It amazes me how people like George Bush and Obama think the public is so stupid that they can get away with this shit!

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RE: Tarp Replayment by Citigroup - 12/16/2009 11:33:12 AM   
willbeurdaddy


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quote:

ORIGINAL: tazzygirl

Again, we see the financial segment showing more concern over salaries and bonuses than to the business they are supposed to be running.





I guess setting salaries and bonuses and attracting/retaining the best talent is not part of running a business properly. Learn something new every day.

Just not from you.

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RE: Tarp Replayment by Citigroup - 12/16/2009 11:38:26 AM   
mnottertail


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quote:

ORIGINAL: willbeurdaddy


quote:

ORIGINAL: tazzygirl

Again, we see the financial segment showing more concern over salaries and bonuses than to the business they are supposed to be running.





I guess setting salaries and bonuses and attracting/retaining the best talent is not part of running a business properly. Learn something new every day.

Just not from you.



I have not seen (nor has anyone else with eyes) any talent come from this, so don't buy the assumption, nor the deal.

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RE: Tarp Replayment by Citigroup - 12/16/2009 1:00:06 PM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline 		We are talking here millions for top executives. Take it home now, nobody knows what tomorrow will be like (not good for sure)!  It is America, I am not surprised.

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RE: Tarp Replayment by Citigroup - 12/16/2009 3:14:00 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		Banks used TARP to run up the stock price- then dumped the stocks to repay TARP. 

See?

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RE: Tarp Replayment by Citigroup - 12/17/2009 2:16:23 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline 		 
quote:

ORIGINAL: DomImus

Again, this is not about bailouts but it is instead about control. One more bank that the government cannot control.



So the government forced these poor, helpless banks to accept our tax dollars in their evil quest to take over all corporate enterprise?

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RE: Tarp Replayment by Citigroup - 12/17/2009 2:32:00 AM   
rulemylife


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quote:

ORIGINAL: willbeurdad

I guess setting salaries and bonuses and attracting/retaining the best talent is not part of running a business properly. Learn something new every day.

Just not from you.


I guess all that "talent" is what allowed them to remain profitable and solvent without without government help.

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RE: Tarp Replayment by Citigroup - 12/17/2009 1:28:02 PM   
willbeurdaddy


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quote:

ORIGINAL: rulemylife

quote:

ORIGINAL: willbeurdad

I guess setting salaries and bonuses and attracting/retaining the best talent is not part of running a business properly. Learn something new every day.

Just not from you.


I guess all that "talent" is what allowed them to remain profitable and solvent without without government help.



Those that couldnt dont deserve the help. Thats the beauty of capitalism when its allowed to work...the incompetents fail. All bailouts do is extend their life.

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RE: Tarp Replayment by Citigroup - 12/17/2009 2:01:17 PM   
SpinnerofTales


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quote:

ORIGINAL: willbeurdaddy


Those that couldnt dont deserve the help. Thats the beauty of capitalism when its allowed to work...the incompetents fail. All bailouts do is extend their life.


And so history begins to be rewritten. If we had just let all the banks that were going to fail without some sort of intervention, the beauty of pure capatilism (which in the end works as well as pure communism, pure socialism or a pure one dimensional response to hugely complex matters) would have taken over and by now all will be well.

Keep saying it long enough and you'll actually start to believe it.

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RE: Tarp Replayment by Citigroup - 12/17/2009 8:42:31 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
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quote:

ORIGINAL: SpinnerofTales


quote:

ORIGINAL: willbeurdaddy


Those that couldnt dont deserve the help. Thats the beauty of capitalism when its allowed to work...the incompetents fail. All bailouts do is extend their life.


And so history begins to be rewritten. If we had just let all the banks that were going to fail without some sort of intervention, the beauty of pure capatilism (which in the end works as well as pure communism, pure socialism or a pure one dimensional response to hugely complex matters) would have taken over and by now all will be well.

Keep saying it long enough and you'll actually start to believe it.



no, all wouldnt be "well by now", but it would be a whole lot better than it is, and universes better than how they will be in 2 years.

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RE: Tarp Replayment by Citigroup - 12/18/2009 12:03:03 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
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quote:

ORIGINAL: willbeurdaddy

no, all wouldnt be "well by now", but it would be a whole lot better than it is, and universes better than how they will be in 2 years.


In what ways would it be better?

I have had four banks that I deal with fail in the last year.

Without TARP and the FDIC we would be reliving the banking collapse of the 1930's.








< Message edited by rulemylife -- 12/18/2009 12:06:16 AM >

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RE: Tarp Replayment by Citigroup - 12/18/2009 2:23:52 AM   
Fellow


Posts: 1486
Joined: 9/21/2009
Status: offline
quote:

In what ways would it be better?

I have had four banks that I deal with fail in the last year.

Without TARP and the FDIC we would be reliving the banking collapse of the 1930's.


Plutocrats want us believe the TARP program was necessary and unavoidable. Many respected economists think it was a mistake and the right way would have been through temporary nationalization, orderly bankruptcy and reorganization of big banks. The crisis would have been over by now. Government actions make it drag on for years to come.

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RE: Tarp Replayment by Citigroup - 12/18/2009 2:29:31 AM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		Yet not a single one of these economists told either Administration this.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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RE: Tarp Replayment by Citigroup - 12/18/2009 2:52:55 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline
quote:

ORIGINAL: Fellow

Plutocrats want us believe the TARP program was necessary and unavoidable. Many respected economists think it was a mistake and the right way would have been through temporary nationalization, orderly bankruptcy and reorganization of big banks. The crisis would have been over by now. Government actions make it drag on for years to come.



This has nothing to with ideologies or personal beliefs.

This has to do with the banking crisis that was averted by TARP.

While I am the last person who would give credit to George Bush for anything, in this case he made the right decisions.

The trouble with the view of the respected economists is they have the advantage of playing Monday morning quarterback.

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RE: Tarp Replayment by Citigroup - 12/18/2009 10:09:38 AM   
DedicatedDom40


Posts: 350
Joined: 9/22/2005
Status: offline
quote:

ORIGINAL: DomImus

A little over a year ago people were complaining because banks were bailed out. Now people are complaining because because the same banks are returning the bailout money. Again, this is not about bailouts but it is instead about control. One more bank that the government cannot control.



The only control they are worried about is control over salaries.

Bottom line, repaying the money does not make the WMD's hanging over our heads go away, and banks without controls built those WMDs.  So the banks temporaily win with the help of tea-partiers, get the government off their backs, all so the bombs can explode another day.  Then the banks will be back sucking on the taxpayer tit again.



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