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Banks’ quota out of the $700bn bailout is $250bn. Treasury Dept. has approved of using one half of the quota for 9 banks. Then, how about the hundreds of other banks at risk?? Look at what is going on AIG? It’s funny, the government is bailing out the bailout. As ‘done that’ mentioned before, it’s so unfair although I believe the life is really unfair.
I guess the unfairness comes from that ordinary taxpayers(or even the decision makers) don’t know who/how/why/when spend the bailout money. It’s completely veiled.
Bank of America $15,000,000,000
Bank of New York Mellon Corp. $ 3,000,000,000
Citigroup Inc. $25,000,000,000
The Goldman Sachs Group, Inc. $10,000,000,000
JPMorgan Chase & Co. $25,000,000,000
Morgan Stanley $10,000,000,000
State Street Corporation $ 2,000,000,000
Wells Fargo & Company $25,000,000,000
Merrill Lynch & Co., Inc $10,000,000,000 % This case is pending for merger.This is the report link as of 10/29/2008
http://www.treasury.gov/initiatives/eesa/transactions.shtml