2 banks with Franklin County ties too...

2 banks with Franklin County ties took TARP money

There are 7 comments on the Public Opinion story from Feb 22, 2011, titled 2 banks with Franklin County ties took TARP money. In it, Public Opinion reports that:

The federal government's bailout of banks is nearing a break-even point, according to the Treasury Department.

Join the discussion below, or Read more at Public Opinion.

Dave

Shippensburg, PA

#1 Feb 23, 2011
Thank you George W Bush & the Democrats in Congress for making the correct decision to save our financial institutions & preventing a deeper recession.

Wouldn't it have been nice of all our legislators had unite in this effort instead of trying to make political hay by calling it a waste of money.
Hard Truth

Greencastle, PA

#2 Feb 23, 2011
It is a waste of money. Now these same institutions with the same leadership will be able to carry on with their incompetent decisions and business practises. They should have been allowed to fail. Our financial strength would be so much better now without the standing dead wood.
Kim

Greencastle, PA

#4 Feb 23, 2011
M&T, when will the TARP money be paid back? The taxpayers didn't take you to raise. Be responsible!
Pay the money back to the government.
Dave

Shippensburg, PA

#5 Feb 23, 2011
Hard Truth wrote:
It is a waste of money. Now these same institutions with the same leadership will be able to carry on with their incompetent decisions and business practises. They should have been allowed to fail. Our financial strength would be so much better now without the standing dead wood.


Allowing these institutions to fail in the 30's was one of the reasons was a Great Depression instead of a recession.

The real fact is that we don't know what would have happened if the institutions started all to fail. What the damage would be, how long it would have lasted, or the depth of the economic slump.

History tells us that it would not be good and certainly to sit back & watch was not a good strategy.
the answer

Elliottsburg, PA

#6 Feb 23, 2011
Why would you do your banking at a "MT" (empty) bank??
Hound at Heart

Geigertown, PA

#7 Feb 23, 2011
Kim wrote:
M&T, when will the TARP money be paid back? The taxpayers didn't take you to raise. Be responsible!
Pay the money back to the government.
I would have to agree that in the long run, TARP was a good idea and gave many banks a "hand up" to solid ground. It appears, though, that M&T looks at it as a "hand out". I can't understand the ethics of them buying more banks (with more TARP debt) when they haven't paid back one penny of what they got originally. Doesn't sound like good finances to me....glad my money isn't at M&T (other than my tax dollars, of course)!!
Someone has to say it

Greencastle, PA

#8 Feb 23, 2011
I think they should pay back all the money plus 20% interest. I went for a loan for a new vehicle and they wanted us to pay the like just under 6%. I think we will have a little talk and see if we can let a loan with the TARP package so we don't have any interest to pay. It's only fair.

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