So far, there are two banks (Northern Trust and one other who's name I can't remember) who are giving TARP funds back to the feds. Northern Trust was forced to take the funds and the other bank took the funds but since decided they didn't need the money. So, the cash is going back to the feds. My question is...where does it go? Does it go back to China to pay them back a little tiny bit? Does it get paid to the taxpayers (ha..yeah, right), does it just go to the government to pay for something else? Will we ever know?
Also...there's all this complaining about parties being thrown by banks and now a union. Northern Trust threw a part a few weeks ago in California and used it's marketing funds to pay for it and a union threw a big bash in south Florida recently as well. Isn't this stimulating the economy? Why is everyone griping about it? They're not going to Mexico or the Caribbean...they're celebrating here...in the US and spending money here. I mean...we keep being told that consumers need to spend more but then when a corporation does just that, they're vilified.
If there is a logical explaination to either of these, please, let me know!
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