{"id":792,"date":"2009-05-04T08:08:55","date_gmt":"2009-05-04T08:08:55","guid":{"rendered":"http:\/\/www.rightwinggranny.com\/?p=792"},"modified":"2009-05-04T08:08:55","modified_gmt":"2009-05-04T08:08:55","slug":"consequences_of_a_tarp_that_is","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=792","title":{"rendered":"Consequences Of A TARP That Is Not Transparent"},"content":{"rendered":"<p>Recently, the <a href=\"http:\/\/www.nypost.com\/seven\/04262009\/business\/us_financial_execs_cannot_serve_two_mast_166300.htm\">New York Post<\/a>&nbsp;ran an article in their financial section showing some of the aspects of the Troubled Asset Relief Program (TARP) that the public was not totally aware of.&nbsp; The article sites the acquisition of Merrill Lynch by the Bank of America as an example of parts of the program not made clear to the public.<\/p>\n<p>Kenneth Lewis, CEO of Bank of America, received a subpoena from Andrew Cuomo to testify under oath about the merger.&nbsp; Andrew Cuomo was not expecting to find what the testimony uncovered.&nbsp; According to the article:<\/p>\n<blockquote dir=\"ltr\" style=\"MARGIN-RIGHT: 0px\">\n<p><em>&#8220;As the Cuomo documents revealed, Lewis admitted that he was repeatedly implored by former Treasury Secretary <strong><a class=\"topiclink\" href=\"http:\/\/www.nypost.com\/topics\/topic.php?t=Hank_Paulson\">Hank Paulson<\/a><\/strong> and Fed Chairman <strong><a class=\"topiclink\" href=\"http:\/\/www.nypost.com\/topics\/topic.php?t=Ben_Bernanke\">Ben Bernanke<\/a><\/strong> to take on the Merrill mess in order to prevent a &#8220;systemic failure&#8221; that would bring the financial system to its knees.&#8221;<\/em><\/p>\n<\/blockquote>\n<p dir=\"ltr\">This is government interference in a private corporation.&nbsp; The government felt entitled to do this because the bank had taken TARP money.&nbsp; Banks&nbsp;all over the country&nbsp;are trying to return TARP money because the rules have changed since they were encouraged to take it.&nbsp; The government is attempting to take over the management of our banks, and the government in&nbsp;its history has never managed anything well.<\/p>\n<p dir=\"ltr\">We need to get back to letting private enterprise be private enterprise!!<em>&nbsp;<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Recently, the New York Post&nbsp;ran an article in their financial section showing some of the aspects of the Troubled Asset Relief Program (TARP) that the public was not totally aware of.&nbsp; The article sites the acquisition of Merrill Lynch by &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=792\">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-792","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/792","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=792"}],"version-history":[{"count":0,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/792\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}