On second thought

Iberiabank Corp., which got $90 million in taxpayer capital through the Treasury Department's Troubled Asset Relief Program, says it objects to changes in the program and wants to return the money.

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"We believe recent actions, interpretations, and commentary regarding various aspects of the program places our Company at an unacceptable competitive disadvantage,'' Byrd said in a prepared statement. "Our Board of Directors has determined that continued participation in this program is no longer in the best interest of our Company and its shareholders."

We understand the lure of “free” money was probably very appealing at one point during this whole process as it may have been the only option for some banks.

Somewhere down the line though, banks are beginning to see the light where “free” means the likes of two-time tax cheat Timothy Geithner, Christopher Dodd and Barney Frank constantly barging into board meetings with their list of demands and favors.

Let’s see if the Feds actually grant their wish because in creating a climate of fear, it’s not really in the country's best interest to have anyone operating outside the system.