Who has received the financial bailout money (TARP)
The Troubled Assets Relief Program will do more harm than good. It rewards companies that are inefficient, too greedy, and whose leaders are incompetent or criminal. This punishes the American taxpayers that will have to pay the taxes to pay off (about $5,000 per taxpayer so far) this mistake. It was crafted mainly by people in Congress (Mainly Democratic) and the Bush Administration that failed to oversee the issuing of the sub-prime loan and financial derivatives instruments that caused the homebuilding and financial collapsed, which started the current financial depression. It would have been much more efficient and ethical to cut personal and corporate income taxes immediately -- that would stimulate the economy right away by making money available to every wage earner and every profitable corporation.
BTW, I don’t see Front and Center on this list.
Source: This is courtesy of USAToday and the U.S. Treasury Department, Office of Financial Stability
|
AIG* |
|
NY |
40,000,000,000 |
|
| |||
|
Wells Fargo & Company |
|
CA |
25,000,000,000 |
|
| |||
|
Citigroup Inc. |
|
NY |
25,000,000,000 |
|
| |||
|
JPMorgan Chase & Co. |
|
NY |
25,000,000,000 |
|
| |||
|
Citigroup*** |
|
NY |
20,000,000,000 |
|
| |||
|
Bank of America Corporation |
|
NC |
15,000,000,000 |
|
| |||
|
Morgan Stanley |
|
NY |
10,000,000,000 |
|
| |||
|
The Goldman Sachs Group, Inc. |
|
NY |
10,000,000,000 |
|
| |||
|
Merrill Lynch & Co., Inc. |
|
NY |
10,000,000,000 |
|
| |||
|
General Motors Corp.** |
|
MI |
9,400,000,000 |
|
| |||
|
The PNC Financial Services Group Inc. |
|
PA |
7,579,200,000 |
|
| |||
|
|
|
MN |
6,599,000,000 |
|
| |||
|
GMAC LLC** |
|
MI |
5,000,000,000 |
|
| |||
|
Chrysler Holding LLC** |
|
MI |
4,000,000,000 |
|
| |||
|
Capital One Financial Corporation |
|
VA |
3,555,199,000 |
|
| |||
|
Regions Financial Corp. |
|
|
3,500,000,000 |
|
| |||
|
SunTrust Banks, Inc. |
|
GA |
3,500,000,000 |
|
| |||
|
Fifth Third Bancorp |
|
OH |
3,408,000,000 |
|
| |||
|
BB&T Corp. |
Winston |
NC |
3,133,640,000 |
|
| |||
|
Bank of New York Mellon Corporation |
|
NY |
3,000,000,000 |
|
| |||
|
KeyCorp |
|
OH |
2,500,000,000 |
|
| |||
|
CIT Group Inc. |
|
NY |
2,330,000,000 |
|
| |||
|
Comerica Inc. |
|
TX |
2,250,000,000 |
|
| |||
|
State Street Corporation |
|
MA |
2,000,000,000 |
|
| |||
|
Marshall & Ilsley Corporation |
|
WI |
1,715,000,000 |
|
| |||
|
Northern Trust Corporation |
|
IL |
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