Legal Commentary

Is There A Law Against Returning The TARP Money?

By Big Tent Democrat

Atrios writes:

How many stories will our credulous press write about how big financial institutions are on their knees begging to be allowed to give back all the free money they were given. You know, when they can... maybe... some day! It's absurd.

Six months after accepting a financial lifeline from Washington, a newly profitable Goldman Sachs is pushing to return the billions of taxpayer dollars that it received in an effort to extricate itself from heightened government control.

It is ridiculous. Just give back the money. If you can. If you can't, well, then you are not doing all that well are you? More on the flip.

In the article, the reporter writes:

Goldman is not allowed to return the money without the approval of the Treasury and the Federal Reserve, which both declined to comment on Monday.

I do not believe that is true. I ask again, is there a law that says this? It is not the TARP law (PDF). What law says this?

Speaking for me only

Full post as published by TalkLeft on April 14, 2009 (boomark / email).