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  • How Are Banks Spending Bailout Money? Anyone's Guess [View article]
    The whole point is not "dollar for dollar". The point is "Where is this money going?" Is it being squirreled away? Is it going for bonuses for executives? Is it being used for a takeover for another bank? The public has a right to know how their tax dollars are being used. Lame excuses like "we’re not providing dollar-in, dollar-out tracking." are evasive and entirely inappropriate. There needs to be some oversight and accountability. It is clear that there is none. That leaves the way clear for corruption. If there is no accountability, the taxpayers money is wasted.


    On Jan 06 11:52 AM The Curious Investor wrote:

    > I have to agree with some of the other comments here. Dollar for
    > dollar accounting is not the best way to keep track of the effectiveness
    > of the money borrowed under the TARP. The money wasn't just given
    > out to be spent. It is used to establish liquidity for the banks
    > to propagate the functioning of our capital markets. I think the
    > fact that we see 3-month LIBOR falling from 4.6% to 1.4% over the
    > last few months is a very good sign that the TARP money is being
    > put to use in a constructive manner. The real key is whether or not
    > the banks, now that they have a capital cushion, are building stronger,
    > less risky operations.
    Jan 06 12:48 pm |Rating: +1 -1 |Link to Comment
  • How Are Banks Spending Bailout Money? Anyone's Guess [View article]
    Surely your remarks are meant to be a joke.


    On Jan 06 10:50 AM bungaloo wrote:

    > I am sorry but do you really think any of the banks can provide dollar
    > tracking for this? It goes to one big pot. They could not tell where
    > the $10,000 they lend someone for a car came from. Can you tell whether
    > the $4 you paid for your Starbucks this morning came from this weeks
    > pay, last weeks pay, your wife's pay or the dividend you received
    > last week? One of the first things we learn about banking is that
    > the $5 bill grandma gave us that she wrote Happy Birthday on is not
    > the same bill we will get back once we deposit it into a bank. Why
    > should the TARp money be any different?
    Jan 06 12:41 pm |Rating: +2 -2 |Link to Comment
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