"Free Money" - No Thanks

At least 50 banks who qualify to receive federal bailout money have rejected the funds (many of these are community banks). They are concerned about the "strings" being attached to those funds, which would limit thier ability to run the bank as they see fit (i.e. Federal government would place restrictions on certain activities). In addition, there is a provision in TARP that allows the government to unilaterally change the rules.