This isn’t going to sit well with President Obama:
That is the message some insurers sent Friday to the Treasury Department, after they finally got word they were approved for federal assistance under its Troubled Asset Relief Program, or TARP.
It looks like some companies which were considering taking government money don’t like the strings that appear to be attached, like the destruction of management in a White House orchestrated shakedown.
Now President Obama just needs to figure out a way to force them to take the money.
They won’t go down without a fight. Have you ever seen the insurance company’s buildings? They aren’t about to give it up to the One.