By VICTORIA MCGRANE | 1/23/09 11:01 AM EST
Text Size: The House passed the TARP bill, authored by House Financial Services Chairman Barney Frank (D-Mass.), on Wednesday.
It’s no secret that the public hates the government rescue of Wall Street, but now even some banks are bailing on their own bailout.
Some smaller banks are dropping out of the voluntary program designed to jumpstart lending, created with $250 billion of the Wall Street rescue, because they fear angry policymakers plan to slap them with unanticipated new rules and requirements.
The development signals the policy fights to come as Democrats seek balance with industry over demands for more regulation, even as the financial system needs more government help.
Regulations, rules and requirements are what the socialists have planned for everyone so get use to it. Be careful what you ask for, you may not like it in the long run.