{"id":667,"date":"2009-03-30T20:32:28","date_gmt":"2009-03-30T20:32:28","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=667"},"modified":"2009-03-30T20:32:28","modified_gmt":"2009-03-30T20:32:28","slug":"another_entry_in_the_law_of_un","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=667","title":{"rendered":"Another Entry In The Law Of Unintended Consequences"},"content":{"rendered":"<p>According to the <a href=\"http:\/\/stlouis.bizjournals.com\/stlouis\/stories\/2009\/03\/30\/story1.html\">St. Louis Business Journal<\/a>, Don Davis, who resigned this week as President of Centrue Bank in St. Louis is raising capital to buy a bank.&nbsp; Mr. Davis resigned because Centrue Bank couldn&#8217;t find a way to honor Davis&#8217; contract under new pay restrictions imposed by Congress on banks such as Centrue that took loans under the Troubled Asset Relief Program (TARP).&nbsp; Centrue accepted $32.7 million, before the pay limits were imposed, because the Federal Deposit Insurance Corporation was encouraging banks to take TARP money to increase capital.<\/p>\n<p>There are a lot of things going on here.&nbsp; The bank was encouraged to take the TARP money even though they were not in trouble.&nbsp; After the banks took the money, the pay limits were imposed.&nbsp; Centrue Bank now has to find a new bank president when Mr. Davis was obviously doing a good job.&nbsp; Mr. Davis will be fine.&nbsp; He and his partners will buy a small bank not tainted with TARP money and avoid the heavy-handed regulations that come with TARP, but this whole situation is totally unnecessary.&nbsp; How many people will have to fill out paperwork to make this work when the previous situation was perfectly fine?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to the St. Louis Business Journal, Don Davis, who resigned this week as President of Centrue Bank in St. Louis is raising capital to buy a bank.&nbsp; Mr. Davis resigned because Centrue Bank couldn&#8217;t find a way to honor &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=667\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-667","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/667","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=667"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/667\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}