That's fine with me. If the government decides not to follow their own rules, that just makes it easier for the banks to pay the money back and I'm all for that. However, it should be noted that paying the money back will reduce capital and right now that may or may not be a good thing.
No, I do not have a link. I realize that means my comment is worthless. However, Bernanke made a comment to that affect today and in the senate hearings with the bank ceos, Barney Frank said it would be arranged if any bank wanted to give the money back.
Even if it they decided not to take it, the press release from BofA that it wants to give money back would almost as effective.
I think what he meant was, the pos Merril was worth only 10 billion dollars in his opinion. But the govrnment decided the price at 15 billion and he threw in the bonus of 4+ billion dollars. Loan was readily available, and he took the bite. For Paulson, putting the lipstick on the Merril pig was more urgent than for Ken to haggle with Thain.
The 'tactical mistake' was he could not bargain a price as he was under pressure from Paulson.
ROFLMAO! He said what he meant, my friend. He said he should have only taken $10 bn so that BAC wouldn't have been classed with C. To try to interpret that otherwise is to play silly games that mean nothing.
It is accurate and not certain why he's not paying it back. Perhaps taking a wait and see attitude to ensure that things don't get significantly worse.
But judging from the comments on a certain automobile manufacturing board, things have already gotten worse judging from the troglodytic, hateful comments. The future is very dark if this is where America is headed.....