[quote=davelj]Nice find flu. I didn’t bother to dig that deep. Yes, the TARP funds are received at the holding company level and downstreamed to the subs.
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I thought it was interesting because it’s not so black and white as one may seem. Here was a riddle. I use to have an account with GMAC, that paid close to 5% on an unsecured note. I could deposit and withdraw as please. Then GMAC started to have all these problems, and I’m like holy crap, I don’t have the safety net of an FDIC insurance. So I took out all my money except $100. A couple of months later. GMAC became GMAC Bank…Fully insured….Go figure…..

There is no clean institution, During the haydays, when banks were “banking” 20+% interest on some of the shady debt, banks that didn’t do these shady deals probably were assaulted by greedy shareholders: “why aren’t you making 20+% like the other banks”….Call it peer pressure, but banks probably were pushed into these shady loans to prop up shareholder’s demands….Hence why I don’t think you’ll find that many clean institutions. (my opinion). Good luck finding one.

Credit Unions are probably cleaner, but I don’t have the time nor patience to embark on this journey.