On Mar. 2, [2009], Wayzata (Minn.)- based TCF Financial announced it would return $361 million to the Treasury Dept. TCF’s decision came weeks after politicians pilloried the bank for holding a company-bonding event at a ski resort. “From Congress’ point of view, any dollar a bank spends is subject to government review,” says TCF Chief Executive William Cooper. “It’s another regulatory push on top of all the regulation we have [already].”

1. TCF shouldn’t have taken government bailout money if it didn’t really need it. Explain your ethical reasoning.

2. Cooper did the right thing to protect management’s right to run the company as it sees fit. Explain your ethical reasoning.
3. Congress doesn’t understand the value of first-rate team building in competitive business organizations.
How would you explain the ethics and practical value of such expenditures if you were called to testify before a congressional committee?
4. Invent other options. Discuss.