Saturday, Dec 27, 2008
None of the banks provided specific answers
CBS: Where'd The Bailout Money Go? Shhhh, It's A Secret
It's something any bank would demand to know before handing out a loan: Where's the money going?
"We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,'" said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to."
Posted by gardeniadotnet @ 01:03 AM (567 views) Add Comment
5 Comments
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1. gardeniadotnet said...
The banks which came closest to answering the questions were those such as U.S. Bancorp that only recently received the money and have yet to spend it.
2. Hiccup said...
Two words. Fat Cats
3. goweresque said...
I'm no conspiracy nutjob, but something stinks about the TARP.........
4. drewster said...
I suspect TARP (and the other acronyms) are a scam for funneling money to Republican Party donors. Obviously the govt can't give money directly to companies whose bosses made large donations, because that would be seen as improper. Instead the dirty money has to be laundered at the casino (the banks) then the banks lend, secretly, to friendly companies. Typical shockingly corrupt US politics.
5. it_is_going_with_a_bang said...
On huge bonuses for doing such a great job.