Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Bailout Overseer Says Banks Misused TARP Funds

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Binyamin Appelbaum
Washington Post
Monday, July 20, 2009

Many of the banks that got federal aid to support increased lending have instead used some of the money to make investments, repay debts or buy other banks, according to a new report from the special inspector general overseeing the government’s financial rescue program.

The report, which will be published Monday, surveyed 360 banks that got money through the end of January and found that 110 had invested at least some of it, that 52 had repaid debts and that 15 had used funds to buy other banks.

Roughly 80 percent of respondents, or 300 banks, also said at least some of the money had supported new lending.

The report by special inspector general Neil Barofsky calls on the Treasury Department to require regular, more detailed information from banks about their use of federal aid provided under the Troubled Asset Relief Program. The Treasury has refused to collect such information.

Full article here

Bailout Overseer Says Banks Misused TARP Funds 290509banner

This article was posted: Monday, July 20, 2009 at 10:41 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The Mass Marketing Campaign For World War III See the rest on the Alex Jones YouTube channel.

Store Owner Shoots, Kills Intruder See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.