U.S. Bancorp CEO, Richard K. Davis say that he was forced to take TARP money, forced to lie about how it was used and he declares that his bank "will not be collateral damage in an attempt to nationalize banks." Photo and video below.speaking out. You and I wonder what happened to the promised liquidity? Where are the monies the Secretary of Treasury Hank Paulson said would be flowing into our communities? It was all a lie. I recently posted a video of Representative Paul Kanjorski's appearance on C-SPAN, and while some of his comments created a loud commotion, another comment went unnoticed. Kanjorski said that TARP was never intended to be funds for banks to lend. He gave no other clarification, and his C-SPAN host didn't ask. View the video below. Now we hear from U.S. Bancorp that, indeed, it was a lie, from the very beginning.
We were told to take it so that we could help Darwin synthesize the weaker banks and acquire those and put them under different leadership," he said. "We are not even allowed to mention that. ... We were supposed to say the TARP money was used for lending."
But Davis is talking about it now, he says, because he and others oppose current and future strings attached to the program. Davis didn't detail those strings, but he said he and some peers intend to voice their opinions to Washington, D.C., soon.
The deceptions emanating from Capitol Hill are criminal.
Now they're punishing you for having the capital, he said, adding that he refuses to stand by and let his company become "collateral damage" in an attempt to nationalize the banks.