Three Bailed-Out Banks Stop Paying Dividends To U.S. Government

Wall Street Journal:

At least three small, cash-strapped banks have stopped paying the U.S. government dividends that they owe because they got $315.4 million in capital infusions under the Troubled Asset Relief Program.

Read the whole story: Wall Street Journal

Comments

[Artemis34]

Nationalize them.

[SamKnause]

Increase their interest rate. Lower their available credit. Hit them with over the limit fees. Add on some new fictitious fees. Change their billing cycle to bi monthly. Ruin their credit scores. Hey this is what the credit card companies do, and the government should be taking their cues from them.

[nomorefed]

1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%.
Since May 2008, we have lost 5.5 million jobs. The biggest losers were:
Manufacturing 1.5 million lost
Finance & Prof Serv 1.5 million lost
Construction 1.1 million lost
Retail & Leisure 1.3 million lost

hat tip to href=".http://www.iamned.com"> for providing good finance and economics articles

where is the change? where is hope? why cant ppl find jobs?

[watchTVgetSTUPID]

The New Federal Reserve

One Ring to Bind Them
And rule Them All In Darkness

[lightningbolt]

This is exactly what will happen with all the other banks which received bailouts. They will give their executives enormous salaries, squander all the TARP money, and then stop paying the dividends. We have been robbed and there is no one who will enforce justice.

[lvdragonlady]

Fine, let's send in the National Guard and take control of them......­..........­..or even better, lets get together and walk in and take over OUR bank, it is OUR money.

[vippy]

Obama found out quick who is really running this country and it is not him. The Bilderbergs (FED)!

[sueinmn]

Now will someone be fired and held accountable?

[sonoffestus]

No, they'll get a bonus, leave and take a higher paying job at another tarp bank who needs their expertise. Probably get a signing bonus too.

[sueinmn]

They should have infused the public with the money! We would have paid off mortgages, autos and credit cards. This would have brought the economy back!! Now we lose our money because ultimately these banks will either talk Giethner into allowing "forgiveness" or be solld at a loss. Either way, it appears WE LOSE! Thanks Obama, I know banks needed to be saved but not all of them!

[SangZe]

Another Obama success story.

[Itsmyland2]

Really?!??! So Obama was elected in November and took office in January but is responsible for what Bush did in September??????

[Name Not In Use]

OK then. We'll just increase the interest rate on the loan to 49.5% and seize all personal assets of top management.