Bankers: Take your TARP money back - Mar. 27, 2009

If Treasury starts taking money back from healthy banks while the economy is still in trouble the weaker banks may appear to be even weaker and the confidence that TARP brought may suddenly disappear.

“The Government has to maintain confidence throughout the banking sector. These banks are all interconnected,” said Miller.

Bankers may not like the Government interfering in their business. But, right now, those who have taken TARP funds have little choice.

Greedy bastards thought they could have their cake and eat it, too. Instead, to their amazement, they are finding themselves eaten by the ravening state.

In a way, this is a good thing. The stupidest, who got in the deepest trouble, were also the most greedy, and the first suckered into the Obama Dead Pool. But with the horrible example of their fate providing a salutory warning to better banks who might now refrain from jumping in after their dying brethren, TARP itself may be destroyed.

It’s another case of the scorpion’s nature: if Obama and the Dems had managed to contain their rage and hatred for capitalism just a few months longer, they might have lured the entire financial sector into their traps. But because they stung too soon, that is looking more and more like a non-starter.

I sort of doubt Obama or the Dems will be raising a hell of a lot of money from the financiers who do manage to avoid their socialist tar pits, too.

I told you the lefties were stupid, didn’t I?

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