{"id":31725,"date":"2009-02-18T01:01:01","date_gmt":"2011-05-19T02:45:11","guid":{"rendered":""},"modified":"2011-05-19T02:45:11","modified_gmt":"2011-05-19T02:45:11","slug":"bank_ceo_blows_whistle_on_tarp","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/","title":{"rendered":"Bank CEO Blows Whistle on TARP"},"content":{"rendered":"<section>\n<p>RUSH: Now, there\u2019s a fascinating story at TwinCities.com, and it is by Nicole Garrison-Sprenger, posted yesterday. It\u2019s about the president, the CEO of US Bancorp. His name is Richard Davis. It\u2019s about the TARP plan. He says: &#8216;There is no &#8216;A, R or P\u2019 in the government\u2019s Troubled Asset Relief Program. &#8216;It\u2019s just troubled,\u2019 the 50-year-old CEO said at the Thrivent Financial for Lutherans\u2019 Business Leaders Forum. The forum invites executives to discuss how business and their principles intersect.\u2019 <\/p>\n<p><img loading=\"lazy\" src=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg\" width=\"186\" height=\"232\" class=\"alignright\"\/>The CEO of US Bancorp, said that &#8216;while government officials marketed the program as a way to entice banks to lend again, TARP actually was designed to give solid banks like US Bancorp some extra cash to buy weaker banks in the system. US Bancorp did just that late last year when it acquired the assets of two failed banks in California, Downey Savings and Loan and PFF Bank &amp;amp; Trust. &#8216;We were told to take it so that we could help Darwin synthesize the weaker banks and acquire those and put them under different leadership,\u2019 he said. &#8216;We are not even allowed to mention that. &#8230; We were supposed to say the TARP money was used for lending.&#8221; This CEO told a group of people that TARP was never about credit, it was about Darwinism, it was about giving big banks some money to go buy little banks that were in trouble. The CEO Richard Davis says he\u2019s &#8216;talking about it now because he and others oppose current and future strings attached to the program. Davis didn\u2019t detail those strings, but he said he and some peers intend to voice their opinions to Washington, DC, soon.\u2019 <\/p>\n<p>Now, don\u2019t forget, the CEO of Wells Fargo also said he didn\u2019t want the money; they weren\u2019t in trouble; they didn\u2019t have any bad mortgages out there. He said they were dragged in there and the Treasury secretary gave them \u2019til five o\u2019clock that day to sign on the TARP, and they weren\u2019t getting out of the room until they signed it. Okay, so they give us the money, they tell us to use the money to go buy smaller banks and now they\u2019re punishing us for having the capital. He said he &#8216;refuses to stand by and let his company become &#8216;collateral damage\u2019 in an attempt to nationalize the banks. &#8230; Davis also disclosed that a number of other states and cities have been working hard to lure US Bancorp away from the Twin Cities,\u2019 but he\u2019s not going to leave. He refuses to stand by and let his company become collateral damage. So one of the bank CEOs is out there now and saying this was never about lending, it was never about restocking the credit pile. It was about giving us capital to go buy other banks, and that\u2019s exactly what happened. And then remember how mad Congress got at these guys? They got ripped for it! That\u2019s what they were told to do by the Treasury secretary. They were called up to explain themselves to Barney Frank, and they couldn\u2019t go public with this. They\u2019re frustrated as hell. I guess that\u2019s why Davis has gone public with it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RUSH: Now, there\u2019s a fascinating story at TwinCities.com, and it is by Nicole Garrison-Sprenger, posted yesterday. It\u2019s about the president, the CEO of US Bancorp. His name is Richard Davis. It\u2019s about the TARP plan. He says: &#8216;There is no &#8216;A, R or P\u2019 in the government\u2019s Troubled Asset Relief Program. &#8216;It\u2019s just troubled,\u2019 the [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank CEO Blows Whistle on TARP - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Bank CEO Blows Whistle on TARP - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Now, there\u2019s a fascinating story at TwinCities.com, and it is by Nicole Garrison-Sprenger, posted yesterday. It\u2019s about the president, the CEO of US Bancorp. His name is Richard Davis. It\u2019s about the TARP plan. He says: &#8216;There is no &#8216;A, R or P\u2019 in the government\u2019s Troubled Asset Relief Program. &#8216;It\u2019s just troubled,\u2019 the [&hellip;]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/www.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#webpage\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/\",\"name\":\"Bank CEO Blows Whistle on TARP - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#primaryimage\"},\"datePublished\":\"2011-05-19T02:45:11+00:00\",\"dateModified\":\"2011-05-19T02:45:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bank CEO Blows Whistle on TARP\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bank CEO Blows Whistle on TARP - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/","twitter_card":"summary","twitter_title":"Bank CEO Blows Whistle on TARP - The Rush Limbaugh Show","twitter_description":"RUSH: Now, there\u2019s a fascinating story at TwinCities.com, and it is by Nicole Garrison-Sprenger, posted yesterday. It\u2019s about the president, the CEO of US Bancorp. His name is Richard Davis. It\u2019s about the TARP plan. He says: &#8216;There is no &#8216;A, R or P\u2019 in the government\u2019s Troubled Asset Relief Program. &#8216;It\u2019s just troubled,\u2019 the [&hellip;]","twitter_image":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/www.rushlimbaugh.com\/#website","url":"https:\/\/www.rushlimbaugh.com\/","name":"The Rush Limbaugh Show","description":"Excellence In Broadcasting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rushlimbaugh.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#primaryimage","inLanguage":"en-US","url":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg","contentUrl":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg"},{"@type":"WebPage","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#webpage","url":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/","name":"Bank CEO Blows Whistle on TARP - The Rush Limbaugh Show","isPartOf":{"@id":"https:\/\/www.rushlimbaugh.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#primaryimage"},"datePublished":"2011-05-19T02:45:11+00:00","dateModified":"2011-05-19T02:45:11+00:00","author":{"@id":"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b"},"breadcrumb":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/02\/18\/bank_ceo_blows_whistle_on_tarp\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rushlimbaugh.com\/"},{"@type":"ListItem","position":2,"name":"Bank CEO Blows Whistle on TARP"}]},{"@type":"Person","@id":"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b","name":"admin","image":{"@type":"ImageObject","@id":"https:\/\/www.rushlimbaugh.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/31725"}],"collection":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/comments?post=31725"}],"version-history":[{"count":0,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/31725\/revisions"}],"wp:attachment":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/media?parent=31725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/categories?post=31725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/tags?post=31725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}