What We're Hearing

What a bunch of 're-TARPs'! The following banks this week signaled their official intention to turn in their "gummint" cash, telling the U.S. Treasury "thank you very much but we don't need your darn money": Iberia Corp. of Louisiana, Old National Bank of Indiana, Bank of Marin (headquartered in Jerry Garcia country), and Signature Bank, which is based in the city that never sleeps. This is NO April Fool's Day joke, folks. Iberia soon will hand Uncle Sammy $90 million, Old National $100 million, Signature $120 million, and Marin $28 million. That's $338 million in cash (presumably) that goes back to the U.S. Treasury. Of course, in the scheme of things $338 million is equal to what American International Group lost each business day last year but let's try and keep the vibe positive. It is April Fool's Day. And in case you're wondering where the 're-TARP' phrase came from, it was given to me from a source located very close to the U.S. Treasury…