banks and bail out money

jaygo · #1 Jun 4, '09, 7:04 am

Does anyone know of any banks in America that have not accepted the Obama bail out money?

sheila0405 · #2 Jun 4, '09, 8:14 am

First of all, it's not President Obama's bail out money. The bank bail out, also called TARP, was put together and implemented by former President George W Bush. The so called economic "stimulus" package is President Obama's doing. Secondly, my understanding is that nearly all of the major banks were forced to take the money whether they needed it or not. Some banks have been trying to give the money back but the government won't let them do so.

daeve · #3 Jun 4, '09, 2:27 pm

I work at one of those major banks, and we were "forced" (maybe a little too strong of a word, but heavily encouraged) to take the TARP. We're already paying it back.

clarkbmiller · #4 Jun 16, '09, 6:54 pm

My bank, USAA, just sent me an email a couple weeks ago:

Quote:

It has been a tough time for the financial services industry, but USAA was profitable in 2008 and continues to be in 2009. We did not take a cent of government bailout money.

I was glad to hear it! Though I'm not so sure if I could have blamed them if I did, when I got my stimulus check I didn't exactly return it to the government either.