Tag Archive for 'tarp'

Banks That Have Repaid Bailout TARP Money


These banks have paid back the Bailout TARP money we lent them.

Remember, Bailout TARP money doesn’t get returned to Treasury or U.S./US. It’s put back into the fund to be lent to other lenders. And the Treasury said they would be using the money in the future.

Here’s a list of the banks that got Bailout TARP money. $700 billion to the bailout the financial system and another $400 billion to bail out Fannie Mae and Freddie Mac, mortgage guarantors.
$1,100,000,000,000.00

$70,049,589,000 has been returned to the Bailout TARP fund.

American Express $3.4 billion
Bank of New York Mellon $3 billion
BB&T $3.1 billion
Capital One Financial Corp. $3.6 billion
Goldman Sachs $10 billion
JPMorgan Chase $25 billion
Morgan Stanley $10 billion
Northern Trust Ill. $1.6 billion
State Street Mass. $2 billion
U.S. Bancorp Minn.$6.6 billion
HF Financial Corp S.D. $25 million
Berkshire Hills Bancorp Mass. $40 million
First Manitowoc Bancorp Wis. $12 million
First Niagara N.Y. $184 million
Washington Federal Inc. Wash. $200 million
SCBT Financial Corp S.C. $64.8 million
Somerset Hills Bancorp N.J. $7.4 million
Alliance Financial Corp N.Y. $26.9 million
Texas Capital Bancshares Texas $75 million
Sterling Bancshares Texas $125.2 million
First ULB Corp Calif. $4.9 million
FirstMerit Corp Ohio $125 million
Independent Bank Corp $78.2 million
TCF Financial Minn.$361.2 million
Shore Bancshares $25 million
Sun Bancorp N.J. $89.3 million
Bank of Marin Bancorp Calif. $28 million
Centra Financial Holdings W.Va. $15 million
IBERIABANK Corp La. $90 million
Old National Bancorp. Ind. $100 million
Signature Bank $120 million

How Loyal Should a Boomer Be?

There is a movement afoot for US/U.S. to “buy American.” The last time I ran  into this was when the Japanese car makers started exporting to US/U.S.  I lived in the rust belt that was heavily dependent on the carmakers. Bay City, Michigan.

I didn’t work for an automaker, didn’t care to buy a new foreign car, so this didn’t really effect me much. The movement got very quiet for a a lot of decades, but now it’s back.

Over 700 governing bodies have introduced some kind of “buy American” legislation. So far 107 towns, cities, counties, states, etc have adopted this as official policy. The steelworkers are pushing this movement hard.

USW members have introduced more than 700 resolutions across the country and are working hard every day to ensure U.S. tax dollars are kept at home to create good jobs at home.

But don’t think this movement is just about buying American made steel.

And let’s not forget the stimulus package and the infamous “Buy American” provisions, which mandate that any company receiving government funding has to use “made in America” goods, such as iron and steel. The stimulus legislation also restricts companies receiving bailout funds from hiring foreign workers and restricts those firms receiving Trouble Assets Relief Program (TARP) funds from hiring foreign nationals holding H-1B visas unless they can prove they could not hire U.S. citizens instead.

How far are you willing to go to support your employer? Is there a dollar threshold, or level of responsibility within the company/business  that establishes loyalty?

Are you being disloyal if you work for:

Ballmer was then asked whether he or his family own any Apple products, to which he explained to the audience that he was particularly brand-loyal.

but nobody is trying as hard as the Big Three to win back the acceptance of the public. Currently, Ford, Chrysler, and GM are bending over backwards to get new customers, offering zero-percent financing, and up to $3,500 cash-back on some of their most popular models.

  • Best Buy and love Buy.com?
  • a local merchant and shop online?
  • the steelmill and buy beer in aluminum cans?
  • a coffin company and are cremated?
  • Louisville Slugger but play Cricket?
  • Jim Beam but drink Canadian Club?

Those last few examples are the problem I have with “Buy American” plans. I like american workers. But I know a few unamerican workers and they seem to be OK. I think NAFTA has worked out alright. Smallburg sends assault rifles to Tacoville, and Tacoville sends us Cocaine and Heroine and dangerous, polluting trucks.

Bottom line: government is inept and enforcing regulations. Two Words: A.I.G. Bonuses. (Or is that five words?) Making “Buy America” a caveat to the stimulus package was woefully wimpy by The Fresh President. But he is getting wimpier and wimpier by the minute.

He referred to Washington D.C. as American Idol except everybody is Simon Cowell.

We all know that Washington D.C. is Sesame Street and everybody is a muppet, just not a cute.

UPDATE: If you buy a Mercedes are you Buying American?

Mercedes-Benz, defying a worldwide decline in auto sales, is preparing to expand its U.S. assembly plant.

The plans, which have not been formally announced, include a $290 million investment at the Vance, Ala., factory that will allow Mercedes to build more vehicles.