Did anyone read this SIGTarp report?

[JDPriestly]

http://www.sigtarp.gov/reports/audit/2011/Exiting_TARP_Repayments_by_the_Largest_Financial_Institutions.pdf

If I understand it correctly, it seems to suggest that some of the banks that received TARP money were permitted to "pay back" their TARP money and free themselves from government controls without satisfying the original reserve requirements.

Could someone who is knowledgeable about these things comment on that. Do I understand it correctly?

What does this mean in terms of the stability of those banks?

I posted this last night after reading about it in the French newspaper Le Monde, but no one seems to have seen or responded to my post.

[girl gone mad]

1. That is correct.

http://www.nakedcapitalism.com/2011/09/quelle-surprise-sigtarp-report-finds-citi-bank-of-america-allowed-to-leave-tarp-prematurely.html

[JDPriestly]

3. Thanks. That is enough to justify occupying Wall Street as far as I am concerned.

So now we have banks paying CEOs salaries they really can't afford -- and the possibility that the taxpayers may have to pick up the tab. Criminal negligence on the part of Congress and all other enablers of this fast-track to national bankruptcy.

I say we never, ever bail them out again, especially not Bank of America.

Bail out depositors not shareholders.

[banned from Kos]

2. Ahhh - my favorite GET TOUGH ON BANKS program - SCAP

thanks for the link.

SCAP was brilliant - thanks to the Obama/Geithner team.