Mob Rule
May 14th, 2009
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Emails and other documents made public this week paint an ugly picture of the tactics used to force banks to accept TARP funds:
But the strategy also depended on surprise. Treasury didn’t want to give the executives much time to consider the offer, talk to their boards of directors, or listen to different points of view. They wanted to lay the documents on the table and force the CEOs to sign. All at once if possible.
Vito Corleone would be proud.
