Want Out of TARP? Just Write a 'Dear John' Letter - FOXBusiness.com

Want Out of TARP? Just Write a 'Dear John' Letter - FOXBusiness.com:

Publicly and privately, industry officials have been expressing growing concern about Washington changing TARP terms, as Congress did last month on rules for executive compensation after the controversy over bonus payments at AIG. That creates uncertainty and disincentives for companies in TARP, they said.

“You have 535 backseat drivers,” the financial industry advisor said of Congress.

Scott Talbott, senior vice president for the Financial Services Roundtable, a Washington trade group that represents 100 major financial firms, said, “The government has changed the terms after the fact.” That creates “counterparty risk” in working with the government, he said.

Why is this surprising?