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My Company Took TARP Money. I don't feel too good about it.

 
 
Reply Sun 18 Jan, 2009 10:25 pm
Ok, so I've been a pretty vocal opponent to the various bailout programs that our government has been printing money for....well, earlier this week our company announced that it asked for and received a $1.2 billion loan from TARP.

My company has a boatload of cash on it's books and and a lot more coming in from a few lawsuits we're collecting on now...and honestly the company doesn't need the loan (unless there's something they're not telling us employees or the shareholders, which is even more frightening).

I'm fairly certain that we're just taking the money because it's out there and under favorable terms.

So, I really don't know how to reconcile the fact that my company has borrowed money from a program that I am in strong opposition to.
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Type: Discussion • Score: 4 • Views: 1,432 • Replies: 8
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Chumly
 
  1  
Reply Sun 18 Jan, 2009 10:33 pm
You cannot reconcile the inevitable aspects of human nature in concert with random chance.

The most you can do is oppose the things you consider unethical, and in doing so pay whatever the cost of said oppositions might be.
0 Replies
 
dlowan
 
  1  
Reply Mon 19 Jan, 2009 03:07 am
@maporsche,
Do you have any power to change it?

If not, is it important enough to you for you to leave?

maporsche
 
  1  
Reply Thu 12 Feb, 2009 08:36 pm
@dlowan,
I don't.

And, I think it is.


Oh, not a good day.
Green Witch
 
  2  
Reply Thu 12 Feb, 2009 09:01 pm
@maporsche,
Few corporations are going to meet anyone's ethical standards on all issues. What company doesn't have skeletons in their closet if you look hard enough? As an ecologist, my husband was offered lucrative work that involved lying for corporations about the pollution they spewed. He has a strong moral compass and wanted no part of it. The other people willing to hire him were non-profits and they paid so little he could qualify for food-stamps. In the end he decided to open his own business, be his own boss and set his own standards. I'm not saying it's an easy solution, but it's the only way to guarantee your own ethics and beliefs will be upheld.

0 Replies
 
genoves
 
  0  
Reply Thu 12 Feb, 2009 09:24 pm
@maporsche,
You, sir, have guts and a conscience. There are not enough people who make the difficult moral choices you seem to be considering. Good luck--I am sure that you know that hardworking skilled people most usually end up on top eventually!
0 Replies
 
Cycloptichorn
 
  2  
Reply Sat 17 Apr, 2010 12:11 pm
http://www.marketwatch.com/story/treasury-confirms-tarp-payments-from-gm-hartford-2010-04-04

Quote:


TARP repayments, including those announced Friday, total $181 billion, according to Treasury. "Total bank investments of $245 billion in fiscal year 2009 that were initially projected to cost $76 billion are now projected to bring a profit," Treasury said in a statement.


Just wanted to point out that the TARP program, decried by many, is now expected to turn a profit. It not only helped avert a gigantic financial crisis, it won't cost us anything in the long run.

Not looking like such a bad move now, is it?

Cycloptichorn
maporsche
 
  1  
Reply Sun 18 Apr, 2010 07:54 am
@Cycloptichorn,
Cyclops, I think I've been pretty consistent with my opposition being mostly along the lines of allowing failing companies to simply fail. They should not be rewarded for their failures. We removed the consequences of making bad decisions from these companies.

Also, I believe the program was too risky. I'm glad that this particular barrel didn't have a bullet in the chamber...but I believe we just got lucky; not that we made a smart decision. After all, we could have just not picked up the gun and never played Russian roulette in the first place.
DrewDad
 
  0  
Reply Sun 18 Apr, 2010 08:54 am
@maporsche,
That's quite the metaphor. Hyperbolic, much?
0 Replies
 
 

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