Six months ago free market capitalism as we know it was about to end, and big bank stocks were trading for less than an ATM access fee.
Analysts were breathing down the necks of bank executives, daring them to declare just how "balanced" their balance sheets were.
To keep hedgies from turning their companies into penny stocks and avoid the wrath of average Joe and Jane, executives begged the government for mercy and got plenty of government funds and government guarantees of their debt. I don't buy the argument that banks were forced to take the money. If they hadn't taken it how many of these banks would be around today?
Now, all of a sudden, they don't need this money anymore?
I smell a rat.
After using taxpayers money to pay executive compensation, raise capital, and avoid a mutiny by investors, could it be that the big banks now want to return the money before government clamps down on executive compensation and credit card interest rates hikes?
Well, well, well. If that's not pimping taxpayers, then i don't know what is.
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