Tuesday, April 14, 2009

Bankers boo-hooing about TARP oversight

Posted By on Tue, Apr 14, 2009 at 12:10 PM

Aww. You don't like the rules? That's sad. Give the money back. Otherwise, stop your sniveling about pay limits and new regulations.

See, here's how things work for everyone else: you do a good job, you earn more pay. Don't do a good job? Well, here's where things differ. "Normal" people would lose their job. You get millions of dollars.

Really. Shut your pie hole, be glad you still have a job to complain about and start looking out for your customers' best interests instead of your annual salary and stock options.

Kim Price’s Gastonia bank accepted $20 million from the Troubled Asset Relief Program to help keep credit flowing as the economy faltered.

Now the Citizens South Banking Corp. chief executive and other community bankers feel that Congress is treating them like villains.

Proposed new TARP rules that could limit bankers’ pay have upset many bank executives here. And the congressional effort has prompted some banks in other states to give the money back.

The U.S. House recently approved a bill to increase federal control of the compensation of employees at companies receiving TARP funds.

Read the rest of this Charlotte Business Journal article here.

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