Congressmen got their chance to ask banking executives what they were going to do with their loans. The answers were not surprising. execs from Goldman Sachs, JPMorgan Chase, Bank of America and Wells Fargo told the Senate Banking Committee that they were not using TARP funds for bonuses and were using the funds to expand credit. But lawmakers seemed a bit skeptical and reiterated that they wanted the banks to make loans--which we can all sympathize with. But you have to be circumspect, you certainly don't want to make bad loans with TARP funds. This isn't a great environment for lending. Using funds to modify mortgages, however, seems wise. All in all, as more money from the $750 billion TARP is doled out, more restrictions may be put in writing. 

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