Tag Archives: TARP
If you don’t know, Elizabeth Warren chairs the Congressional Oversight Panel (COP) for the Troubled Asset Relief Program (TARP). She’s been in the news a lot recently for her comments and opinions on the TARP program, many of them, not very flattering to banking executives. So why would I agree with her? If you […]
Community banks that received TARP money are bristling at the daily criticism from Washington that they are misspending the funds. Last week’s release of an audit from TARP’s Special Inspector General (SIGTARP) that detailed TARP spending didn’t help matters. “Nobody wants to stand up for the good bankers in this deal,” says Robert B. Atwell, […]
Bob Atwell is quoted in this FinCriAdvisor article and discusses how the application of the stress test methodology to non-core institutions is a mistake.
Finding opportunities when the going gets tough isn’t always easy, but Mike Daniels, president and chief operating officer for Nicolet Bankshares Inc., is looking to do just that. While the financial industry has taken a beating nationwide and across the globe, the Green Bay holding company for Nicolet National Bank has held its own, but […]
Last weekend I watched portions of Treasury Secretary Timothy Geithner’s testimony to the banking committee followed by portions of the big bank CEOs’ testimony. There were moments in both where I wanted to scream, “why can’t you guys just tell the truth?” I do not mean that any of them perjured themselves in a legal sense. I mean […]
For more than a few reasons, starting with an early shift in priorities by the officials running it, TARP has become one of the most misunderstood and controversial parts of the federal government’s effort to revive the economy. Originally intended to stabilize the financial system by getting troubled loans and investments off the books of […]
So if Nicolet is not broke, why did we take the TARP funds? We took the TARP funds for two reasons. The first is that we believe in the intent of the program as it was expressed to us. With the exception of the Toobtofs, the program is intended to infuse capital into strong banks because […]
Michael Daniels runs a small bank in Green Bay, Wis., that recently received $15 million in taxpayer money. When he got the money, Daniels did something a bit rare in banking circles these days: He lent it out to homebuyers and small businesses. “We’re making loans,” Daniels said. “The window is open. It’s never been […]
Nicolet National Bank President and COO Mike Daniels comments on how Wisconsin banks are using bailout money.
What did Nicolet do with the capital? While our press release adequately addresses this, I would like to comment in a more complete fashion. In my opinion, there are two reasons why the public gets frustrated with the response of banks to questions about the use of the capital. The first is my opinion, the […]