TARP

For the record:

don't read everything you read about some banks and their excesses. There's a lot of spin out there....so don't buy into every word you read. Or hear.

Some banks were FORCED to take the 'bail out' funds. They didn't need them, didn't seek them out and would have preferred to have not received them. They weren't given that option. They were FORCED by the US Treasury to accept them - and are dutifully putting them to work lending to customers who need restructuring of mortgages to avoid foreclosure. It's pretty hard for the employees of banks like that to hear the press bash them right and left regarding 'excesses', etc. in light of 'such and such bank receiving bail out funds'. Yes, they received them - but that's not the same as asking for them or needing them. A few did not need them - but took them because they had to. THEY HAD TO. When Uncle Sam says 'take these monies and lend them', they did. It's inaccurate to say they are 'using' bail out funds for other legitimate business expenses. And it's wrong to penalize the employees who work their butts off for their company - not to mention putting them through crappy press coverage.

The cream rises to the top and the distorted press reports will play themselves out. But I wish the press did a better job of clarifying the definition of 'bail out' funds. Not ALL banks receiving TARP funds NEEDED them.

And, these same banks are paying HUNDREDS OF MILLIONS in quarterly dividends to the government for the preferred stock those funds 'purchased'. Uncle Sam is getting a pretty damn good return on the 'investment' they made in these banks. No press coverage ever mentions THAT - at least not much. Maybe in the fine print at the bottom of a long article bashing banks about 'misusing bail out funds'.

All of the above being said: perception is reality to 99.9% of America - so best to cool it with festivities of any kind lest you get a bad rap about your activities. It wasn't your choice to take the funds - but you do have them - and that is a responsibility that can't be ignored. The average person in our country is just trying to survive - so perhaps the money being spent on employee recognition could go towards employee recognition programs that don't make the front page or CNN. Just an idea. Starbucks Gift Cards, anyone?