No Runny Eggs

The repository of one hard-boiled egg from the south suburbs of Milwaukee, Wisconsin (and the occassional guest-blogger). The ramblings within may or may not offend, shock and awe you, but they are what I (or my guest-bloggers) think.

How the healthy banks were strongarmed into TARP

by @ 7:58 on January 8, 2010. Tags:
Filed under Business, Politics - National.

(H/T – The Right Scoop via Ed Morrissey)

BB&T CEO John Allison spoke with Fox Business Channel’s John Stossel about how BB&T was forced to take TARP money despite being sufficiently capitalized…

[youtube]http://www.youtube.com/watch?v=gCEdy_yHkQE[/youtube]

To wit:

– The Bush-era regulators “kindly informed” BB&T that the capitalization rules would be changed for banks who did not succumb to TARP to levels that even BB&T could not meet.
– Fed chair Ben Bernanke, Time’s “Person of the Year” for being instrumental in the federalization of the economy, didn’t want we the people to realize which banks were in trouble.

Revisions/extensions (8:32 am 1/8/2010) – Had the hat-tip links reversed. OOPS!

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