TCF plans to return its federal money

Good give the money back. You "people" have had it your own, none to gentle way, for far to long. In case you have been deluded into not listening by your nicely padded lives while being protected by your corrupt lazy representatives in the former congress and the executive office let me make you aware that there is no love lost between the American people and your industry. You did it to us in the 30"s and you scabreous examples of business acumen are doing it to us again. Personally I am tempted by the Chinese philosophy of public corrections for antisocial behavior.
Don't you agree that society would be cheered to see your chairman caned in a public square? Afterwards we will accept his/her apology.

Well, here it is: the banks really didn't need the money, they just wanted the money. "Give it to us on our terms," they announce haughtily, "Or else it isn't good enough." For my money, which is probably in their banks, they are a bunch of creeps and crooks and should all go to a non-country club prison where they learn about the back side of justice.

Good for TCF! Thanks, Bill Cooper for coming back and steering the ship. Also, thanks for getting rid of that slug, Lynn Nagorske. He was no asset to the company.

And, thanks for the dividend check I'll be receiving this week.$1 a year per share. Thats $.25 per share per quarter. While other banking systems are cutting/eliminating their dividends, TCF remains true to its stockholders.

The Hard Truth wrote:

Well, here it is: the banks really didn't need the money, they just wanted the money. "Give it to us on our terms," they announce haughtily, "Or else it isn't good enough." For my money, which is probably in their banks, they are a bunch of creeps and crooks and should all go to a non-country club prison where they learn about the back side of justice.

Is it dark under your rock? Not every bank wanted the money they were told they had to take it. Welcome to the world of government control of everything and to the spoon fed media chips.

Joe Btfsplk wrote:

<quoted text>
Is it dark under your rock? Not every bank wanted the money they were told they had to take it. Welcome to the world of government control of everything and to the spoon fed media chips.

These banks were not "forced" to take the money. Spokespersons for both US Bank and Wells defined them being "forced" as them taking the money because their peers did so they did to "Stay competative". This story shows that the government is not forcing the banks to take the money. If they were TCF wouldn't be able to give it back. If other banks want to keep complaining about the strings attached they should follow in the foot steps of TCF (their peer).

Sioux Falls Federal says thanks but no thanks.

Hey TCF, you should not have taken the peoples money in the first place. You like other banks have been greedy for far too long. Your stock prices, exiting customer base and general distrust is called "Bad Mojo". The big man upstairs is laying his heavy hand on the shameful practices in this country for decades...Ethics is your only salvation. Sorry to say that TCF has none and will just slowly fade away...

I find it refreshing a company is standing up to the socialist ways! Its time for capitalism to make its comeback and then we will see a recovery!

Jesse M wrote:

<quoted text>
These banks were not "forced" to take the money. Spokespersons for both US Bank and Wells defined them being "forced" as them taking the money because their peers did so they did to "Stay competative". This story shows that the government is not forcing the banks to take the money. If they were TCF wouldn't be able to give it back. If other banks want to keep complaining about the strings attached they should follow in the foot steps of TCF (their peer).

Another product of our failed educational system and the left wing media. Try thinking for yourself for a change.

Joe Btfsplk wrote:

<quoted text>
Another product of our failed educational system and the left wing media. Try thinking for yourself for a change.

As someone who works in compliance for a very large bank in Minneapolis; I can assure you that no bank was forced to take federal funds. Those banks that took the funds, including ours, chose to do so.

Since TCF has never been much of a mortgage broker, it is not surprising that they chose not to take the money available to them; their only losses are related to their commercial lending and consumer defaults--but they have few, if any, mortgage defaults. TCF would only be eligible for funds under a very small (<2% of total) TARP programs in these areas.

I suspect that this is an easy way for a prominent Reublican to seem noble.

Joe Btfsplk wrote:

<quoted text>
Another product of our failed educational system and the left wing media. Try thinking for yourself for a change.

Yeah, like all those conservatives who take every word Rush says as TRUTH and repeat it!!!!

I'm sorry but TCF withdrawl of these funds from the U.S. Treasury caused our national checking account to become overdrawn. So there will be a daily NSF charge of $44,000. Plus, there will be a charge of 29.44% apr on the funds for the period of time they were in use.

The money these banks took was our money; yours and mine!!!! This money was not meant to line the pockets of CEOs, or to give bonuses, or to allow employees to go on lavish trips. This money was meant to improve the economy. If banks don't want to use it the way, it was intended they should give it back. It's ours!!!!! To use it for other purposes, is criminal and I would say UNAMERICAN given the way our economy is right now. Americans traditionally have cared about the welfare of this country, not just themselves. Just because something is legal doesn't make it right.
Alot of greedy people who only cared about themselves are the ones who got our economy in this mess to begin with.

Obama lied; the economy died

http://www.washingtontimes.com/news/2009/mar/...





I am trying to capture the spirit of bipartisanship as practiced by the Democratic Party over the last eight years. Thus, I have chosen as my lead, the proposition: Obama lied; the economy died. Obviously, I am borrowing this from the Democratic Party theme of 2003-08: "Bush lied, people died." There are, of course, two differences between the two slogans. Most importantly, I chose to separate the two clauses with a semicolon rather than a coma because the rule of grammar is that a semicolon rather than a coma) should be used between closely related independent clauses not conjoined with a coordinating conjunction. In the age of Barack Obama, there is little more important than maintaining the integrity of our language - against the onslaught of Orwellian language abuse that is already a babbling brook, and will soon be a cataract of verbal deception. The other difference is that George W. Bush didn't lie about weapons of mass destruction in Iraq. He was merely mistaken. Whereas President Obama told a whopper last week when he claimed he was not for bigger government. As he said Tuesday night: "As soon as I took office, I asked this Congress to send me a recovery plan by President's Day that would put people back to work and put money in their pockets. Not because I believe in bigger government - I don't."

Read more at washingtontimes.com ...



Bush’s Recession - Obama’s Depression

Obama Spoke, we went broke.

I guess that just goes to show you the banks didn't really need a bailout. They just bellied up to the trough like the greedy little hogs they are. Just listen to them squeal now that the executives can't just steal the monies by claiming they are bonuses.

I particularly like the line about "We did it to be a good citizen"

I watched this live on TV but it is fun to read too.

http://dealbook.blogs.nytimes.com/2009/02/11/...

It just sounds like they are paying back the loan, not "giving the money back". Good for them.

We need a better America wrote:

The money these banks took was our money; yours and mine!!!! This money was not meant to line the pockets of CEOs, or to give bonuses, or to allow employees to go on lavish trips. This money was meant to improve the economy. If banks don't want to use it the way, it was intended they should give it back. It's ours!!!!! To use it for other purposes, is criminal and I would say UNAMERICAN given the way our economy is right now. Americans traditionally have cared about the welfare of this country, not just themselves. Just because something is legal doesn't make it right.
Alot of greedy people who only cared about themselves are the ones who got our economy in this mess to begin with.

As someone who works for one of those banks , I agree with you. This may be too late, but I think that some of the banks' top management are starting to get it now. I think one of the problems was that banks kept trying to keep up with the other banks' level of prestiege.

I can also say that the view of how closely the banks would be regulated changed dramatically when the new administration took over. I think, for example, TCF was willing to take the money under the Bush administration because they didn't think it would be regulated closely. The Treasury has pretty dramatically changed its tune in the past month and we have been watching every dime very closely. More work for me and my department, but good for the country as a whole.

If this is so offensive to TCF, why are they "planning" to give it back. Just write a check, Mr Cooper, and get it over with. Why are you waiting?

They are giving the money back on top of paying the government 6 million in interest if I am reading this story correctly.