Treasury Refuses to Comment on Banks That Are Not Being Allowed to Pay Back TARP Money

Over the weekend I wrote about how there are several banks who no longer need the TARP funds and these banks tried to give the money back to the federal government but the administration refused to take the money back.

The TARP money comes with government controls and when the banks give the money back the stipulations go away, but the president isn’t interested in saving the economy and he isn’t interested in saving the banks. He is interested in controlling them and running them, that is why he will not allow the banks to pay back the TARP funds– he wants control.

The treasury department has been asked several questions about the president’s refusal to accept repayment of the TARP funds but they are unwilling to comment.

Despite repeated requests for the information from CNSNews.com, Treasury spokesman Andrew Williams wouldn’t say how many financial institutions want to give the money back in exchange for getting their stock back. The Treasury Department also will not say whether it has refused any requests from financial institutions to repay the money they took from the government

This unwillingness to answer the questions is a confirmation in my book. The treasury department is not allowing the banks to give the money back because they want government to control the banks.

Once a government extends it’s power it never gives it back.