AP Surveys Banks: (Still) Not Disclosing What They Did with Bailout Cash

[snot]

Good update, at

http://cryptogon.com/?p=5821 :

"It’s something any bank would demand to know before handing out a loan: Where’s the money going?

"But after receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse to discuss it.

“'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.'

"The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what’s the plan for the rest? None of the banks provided specific answers."

More at link above

[Fire1]

1. Uh, yeah, they have. It was on CNN over the week-end. They

paid billions in country club dues, executive bonuses and they get to keep their private jets. I think that's about it.

[ThisThreadIsSatire]

2. I'm sure they'll get back to us...

...after they check the other set of books.

[Mike 03]

3. Did the Federal Reseve forbid them from disclosing this? NT