(CNSNews.com) – While the Treasury Department is allowing another bank to return money loaned to it under the Troubled Asset Relief Program (TARP), it is still keeping one institution – TCF Financial – in the lurch, declining to tell it or CNSNews.com why it has taken more than the required 30 days to process the money-return request.Welcome to the world of the "living" Constitution. If a party like the Democrats believe the Constitution is subject to change according to the popular whims of the day, a few TARP rules could certainly be changed and made retroactive at any moment.
The bank allowed to return funds, Shore Bancshares of Easton, Md. will repay its $25 million taxpayer loan Thursday, bank CEO Moorhead Vermilye told CNSNews.com. Shore wanted to return the money because it felt persecuted by Congress and the administration, said Vermilye.
“We have heard, we got approved, we’re paying it back today,” said Vermilye. The biggest reason for returning the funds, he said, was the public perception that the banks taking TARP money were weak banks that were getting bailed out.
“Number two, they [Treasury] changed the rules after the game had started and made the rules retroactive,” said Vernilye. “The basic feeling was that Congress might change these rules anytime they felt like changing them.”
Saturday, April 18, 2009
Treasury "Changed the Rules After the Game Started"
So claims a bank that paid back their TARP funds:
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