WASHINGTON " 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?
How come this doesn't surprise me? For one, why would a bank want to give full detailsto all of of you successful Wallstreet folks like the ones who post on this board.[8D] Secondly, your very own government can't account for trillions and trillions of dollars they've stolen from you at gun point. Yet, we have liberals, oh I'm sorry, progressive independents calling for more and more government programs and praising SS and medicare.[:'(]
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How come this doesn't surprise me? For one, why would a bank want to give full details to all of of you successful Wallstreet folks like the ones who post on this board. Secondly, your very own government can't account for trillions and trillions of dollars they've stolen from you at gun point. Yet, we have liberals, oh I'm sorry, progressive independents calling for more and more government programs and praising SS and medicare.
What's sorry is all of the people who continue to blame only one party when they are ALL responsible for this mess. And yes, that does include Bush, Obama, Biden, McCain and all the other irresponsible clowns in Congress. About the only person who isn't responsible for this fiasco is Palin and that's because she was lucky enough to be Governor of Alaska and not in Congress--Otherwise, she'd be responsible too.
Until people hold ALL of congress and the President responsible, we are going to get ripped off over and over again. I am sick and tired of hearing about how Congress is going to fix everything when they don't accomplish diddly squat other than to rip us off more and jockey for power and prestige. I'm sure some people will try to turn this into a partisan issue but it's not. They all have dropped the ball, screwed up, ripped us off and are simply incapable of fixing the problem.
And yes, that includes both Bush and Obama. Neither one of them has come up with any credible ideas on how to fix this problem nor have wither of them provided any real leadership. I don't want to hear about the puppy you're buying your kids or the mansion you're going to retire in--Fix the problem and do your job. It's that simple but they still don't get it.[:@][:@][:@]
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Until people hold ALL of congress and the President responsible, we are going to get ripped off over and over again. I am sick and tired of hearing about how Congress is going to fix everything when they don't accomplish diddly squat other than to rip us off more and jockey for power and prestige. I'm sure some people will try to turn this into a partisan issue but it's not. They all have dropped the ball, screwed up, ripped us off and are simply incapable of fixing the problem.
+1
There is a lot of hypocrisy out there in the voting public. To most voters party loyalty is everything. Many talk about the sorry butt congress and how we should throw them all out. Then when it comes election time they vote tore-elect their congressional scumbag over 90 percent of the time.
Neither political party cares about what happens to citizens of this country. Look at the bi-partisan effort in congress to give amnesty to illegal aliens. The national Democrat and Republican parties are as alike as two stinking crap sandwiches on rye.
Good post Cal, I been saying that all along but was informed the Republican party was the only one with principals.Course now that they sold thier principals down the river I cant even get anyone to discuss what happened, nobody much championing the free market anymore either since the bailouts began.
WASHINGTON " 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.
The title is quite misleading. I don't read in the quotes from JPMC that the banks "can't" track bailout money. Only that they "won't" disclose it to a bunch of reporters at the AP. I also don't read anything in the article that suggests they have refused to give any required accountings to Congress or Treasury.
Banks Can't Track Bailout Money
