'Bailout' money comes to local bank
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#1 Nov 20, 2008
I am so pleased to see that our tax dollars are being distributed to a "well-capitalized institution" while at the same time the U.S. automotive industry will seemingly be left to declare bankruptcy. Isn't there something wrong with this picture?
#2 Nov 20, 2008
Let me see....Susquehanna Bank is NOT in trouble...but is borrowing 300M from the 700B at a reported 5% interest. It seems to me that Mr. Rueter might need a CRASH course in Risk Management. There are a few questions:
1. What forced Susquehanna to be put in this position if they are not in trouble?
2. If the Bank is not in trouble, why are they really getting the money in the first place?
3. Isn't the money from the TARP to be used only for those in trouble?
4. Have they querried their shareholders before applying for the loan, or was this strictly a Board of Directors decision?
5. How do they plan to pay back the loan if the lendees are in trouble and may default, too.
6. Does Mr. Reuter understand that the taxpayer can lose if his bank cannot pay back the loan? What safeguards are in place to prevent this from happening?
Just a few thoughts........
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