TCF to pay back TARP money

[FiveStarFan]

http://news.moneycentral.msn.com/ticker/article.aspx?Feed=BW&Date=20090302&ID=9657989&Symbol=TCB

Looks like we may have one of the few smart banks in our backyard!

[Rouser]

The reality is that the TARP program is a good program..for banks that are struggling. However, after the first few large banks were encouraged to enter the program, there was a grab bag by all other banks to partake, fearing that their competitor would get free capital injections putting them at a competitive disadvantage if they did not apply for funds. Now, its starting to work as healthy banks are thinking twice as there is a public stigma attached to TARP money as "bailout" money, which it is not (in most cases).

I think we will see a lot of banks pass on the program that were initially thinking of using it. Some will say its because the government is putting too many strings. No sh$t. That's what the government should do if they are giving out lots of cash to banks. The lack of "strings" was resulting in banks stockpiling the cash when they really didn't need it.