A question put out to all the aspiring, deputy, junior, official or otherwise economists;
Does anybody know where I can find a list of all the companies receiving or applying for the $700 billion bailout money?
I'm quite adamant about upon finding out who those companies are, calculating the amount they owe every taxpayer and when using their services, demanding that amount back from them in the form of a discount or cash up front.
9 comments:
bailoutsleuth.com is backed by Mark Cuban. They are currently trying to track the money.
I believe Sluts-R-Us.com grabbed a major chunk of that!
Oh wait. No, I wish Sluts-R-Us.com did!
Damn!
Good luck though, Caps!
Hi Captain,
I did notice that USBank took in about $6 Billion in preferred stock from the treasury plan.
US Bank has to pay 5% on the stock, plus gave up some warrants as well. Its not obvious to me how this benefits US Bank - maybe its neutral, and they did it because the government asked them to?
If you could put your best banking/economics teacher hat on and explain how this affects a healthy (I think) bank in a positive or negative way, that would be appreciated.
Does this mean they can grow faster, since the loans they extend based on the new higher capital balance have a higher return than the 5% they have to pay on the capital balance?
Lastly, it doesn't seem to cost the government much. The government is getting a return higher than the cost of the funds (to the treasury). Is the treasury becoming a value investor - only buying into the banking sector when prices are cheap?
James
ProPublica has been keeping tabs on the bailout banks. Their latest tally is here:
http://www.propublica.org/feature/bailout-bucks-to-banks-1028/#When:18:01:00Z
I guess one of the big problems is that despite the claims of transparency the Treasury has not released very much information and most of the information out there comes from the banks after they've been helped. This makes it difficult to see who is begging for dollars and what the decision making process really is.
Dustin May
http://o2richenvironment.blogspot.com/
Capt, keep in mind that some of these companies do not want the bailout money. It is the gov't forcing the funds upon the institutions.
This list may be what you're partially looking for:
http://online.wsj.com/public/resources/documents/st_BANKMONEY_20081027.html
I would also be interested in knowing which politicians hold their stock, and how much of it.
Rumor has it that the Pelosis have something like $250K to $500K in AIG holdings, and the Kerrys have over $2M.
Since our esteemed Speaker of the House is pushing for an immediate bail out of the auto makers, I wonder exactly what kind of a financial hit she would take if GM went belly up?
Hi,can any one mention the list of Bailout companies...
Thanks & Regards
Extensa
Here is the List of the Companies getting Bailout money:
http://projects.nytimes.com/creditcrisis/recipients/table
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