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  1. #1
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    Question where did the bailout money go?

  2. #2
    Full Member Greywolf's Avatar
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    Adam,

    I think the financial companies are really dropping the ball by not answering the question, although the answers are there for anyone to see, just look at their financial reports.

    Assets, loans, deposits, borrowed, etc is all available for anyone to see. It’s not necessarily easy to digest and understand these numbers, but good financial reporters, and investors, do it all the time.

    The Financial Institutions are saying they aren't tracking TARP money separately from everything else, which I'm sure is true. They could however provide information to show how loans have increased, or other failing institutions have been acquired (which isn't a bad thing, the alternative being FDIC seizure), or how their own balance sheet has improved and kept them from becoming a failed institution.

    It's unrealistic to expect every single TARP dollar to go out in a loan, but I think the banks need better PR people; they need to show the benefit of TARP to the U.S. economy.

    GW

    P.S. I was, and still am, opposed to all bailouts.
    "Somebody may beat me, but they are going to have to bleed to do it." Steve Prefontaine

  3. #3
    MasterMike HardwareGeek's Avatar
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    It's hard to answer the questions right away though.

    We probably have to wait a quarter to see where it went. To ask them right now is stupid and just an attention grab by the media.

    Of course they don't know where it went, because they are going to need to AUDIT everything to know where it went and that will take time.

  4. #4
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    The money was first intended to go toward buying up the credit card company's "toxic assets". There was a change of plans, however, and the money was then intended to be used for a number of things including helping larger banks buy out their smaller, struggling, competitors.

    Now the banks want an increase in the amount and the FED plans to loan a portion of that money to the automakers as part of their bailout.

    We should not even try to figure out where all this money is going until it is completely gone because they will probably change their minds several times by then. Until then we can only hope that the organizations that this money is being loaned/given to will cooperate with the government to track where all this money goes.

  5. #5
    Moderator BurgerBoy's Avatar
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  6. #6
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    I know just ONE thing about the bailout money - I did not get ANY of it.

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