Judicial Watch filed a Freedom of Information Act request to obtain documents from the Treasury Department concerning the October 2008 bailout meeting with our country’s nine largest banks. Apparently, the bankers were made an offer they couldn’t refuse.
The critical meeting on October 16, 2008, included Hank Paulson, Ben Bernanke, Tim Geithner and the heads of the aforementioned banks, among others. The documents uncovered by Judicial Watch indicate that the Treasury Department gave the banks no choice but to take government funds.
One of the key sentences in the government’s talking points – “If a capital infusion is not appealing, you should be aware that your regulator will require it in any circumstance.” So there you have it.
The banks then literally filled in the blanks on a half sheet of paper and billions of dollars were offered up. The claim for Bank of America’s $15bn is shown below.
The quote that comes to mind when I see the heavy-handedness of this is from The Tragedy of King Richard The Third. After killing her husband (Edward, Prince of Wales), Richard makes a play for Lady Anne’s affections
Was ever woman in this humour woo’d?
Was ever woman in this humour won? (Act I, ii, ln 229)