"NEW YORK (MarketWatch) -- Goldman Sachs Chief Financial Officer David Viniar said Wednesday that the firm would like to buy back an investment made in it by the Treasury under the government's Troubled Asset Relief Program as soon as possible, but there are certain restrictions and nuances to doing it. Goldman likely needs to raise Tier 1 capital before it would qualify to buy back the investment, and that could be accomplished via a common or preferred stock offering, Viniar said. "
Read that one kids and pay attention to the bold.
So if you paid it back, dear sirs, exactly what would your Tier Capital ratio be?
Under statutory minimums (or too damn close for comfort) perhaps?
There's the answer to those who say that "banks were forced to take TARP money."
Yeah, they were forced all right - was that "force" something like "either we do this or if the examiners come in and have a look we're broke"?
Gee, if they didn't pay those bonuses, maybe their Tier Capital ratio would have been ok without TARP money, yes?
Banking rescue my ass.
"Banksters rob the American Taxpayer so they can have their billions in bonuses" is more like it.
Thanks Hank, Ben and George.
Oh, Barack? He voted for it and all his recent "sound and fury" makes for good TeeVee, but where, my friends, are the clawbacks?
If you're wondering what THIS American thinks of all of this nonsense, here's your answer:
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