Treasury accepts losses as small banks exit bailout program

[dballance]

2. I guess Treasury doesn't get the concept of a "reserve price" in an auction.

"Some small banks have taken advantage of the auctions and bought their own shares at a discount."

Imagine that. I bet the bank presidents who plunged those banks into situations that caused them to need a bailout are getting big bonuses for their smart buying back of shares at a discount. I'm baffled as to why the Treasury wouldn't require banks to buy their own stocks back at no lower value than what the US tax payers paid for that stock as part of the bailout. I recall a concept I learned in business law called "unjust enrichment." Sounds like it applies here.