Bankers balking at Geithner plan

Many banks are fearing "The Geithner Treatment" where executivese are fired, pay structures are government mandated, business plans are changed by the government, and they are prevented from paying taxpayer money back because the government wants to maintain a stranglehold on their operations: [snip]

I would say that some banks would rather go under than submit to the kind of government interference that Geithner has in mind. This smaller bank chief has had it:

"What they did is wrong and fundamentally un-American," he said. "Even though the government told us to take this money to increase our lending, the extra charge meant we had less money to lend. It was the equivalent of a penalty for early withdrawal."

Once again, it appears the Obama Administration is using the financial crisis not to solve it but to put a huge crimp in the free market. By God, they are going to control the banks or the banks will be out of business...

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