Treasury Invests $15 Billion More In Banks

The Treasury Department said Monday it had invested $15 billion in another seven banks, including two companies that recently completed large takeovers of other banks.

Under the $700 billion Troubled Asset Relief Program, Treasury has allocated $250 billion for capital investments in banks.

Read the whole story here.

Comments

[PhilipTaylor]

Paulson proposed today that Freddie be broken into regional parts! His concept is divide and conquer the Government bank in favor of his Banksters!

He has managed to squander $335 Billion on his Bankster Friends that ended up aquiring small and big banks to become MEGA BANKS! The rest was given out in undeserved bonuses and dividends!

Instead form the Internet Central Bank (ICB) under Government Control:

1. Integrate the FED into the ICB.
2. Integrate Fannie/Freddie into ICB.
3. Automate virtually every function of the ICB to reduce costs using the Internet and ATMs.
4. Be the Walmart of Banking to force competition and lower FEES and RATES.

Soon Banks will have to compete with Federal Banks! Banks as we know them will be out of business due to automation and inability to compete on low fees and low costs to the customer for loans and other services!

[miamia]

Treasury is not "Investing" in Banks. This criminal is letting the Federal Reserve rob us blind. Since when is someone stealing your money an investment.

[Firestarter]

WHY? Pay the ones who caused the mess brilliant while the rest suffers. Well American how much longer are you going to take it up the rear!

[Agent420]

This guy needs some tar and feathers.

[ErnestineBass]

He needs to be fitted for a noose.

[leftLibertarian]

Disgusting. a pox on both political parties who enabled this mass fraud.

[Rule Of Law]

I have a question:

If they can't keep track of 700 Billion, or a Trillion+ (whatever were up to now) how did they know where it was to lay their hands on it to give away?

[amdezurik]

oh, Stank and the others know very well where every cent has gone. it is just US who are not allowed to know. We "little" people might get upset hearing about even more bahamas parties and parachutes being paid out. Can't have that now can we?

[cayuse]

Article 1 Section 9 Item 7 of the Constitution of the United States

"7: No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time"

Well congress is on the hook maybe Polson is free though.

Then, maybe it is over No Constitutioin, No Law, No Money

[Rule Of Law]

When (or if) Obama restores the Constitution and all our protections lost under Bush, then I will believe in change we can believe in.

[JimboSlicer]

How!?!?! They ran out of cash following the GM and Chrysler bailout, in fact many have said they didn't even have the $$ they gave to GMAC. This should be investigated, and if they were never appropriated the $$ then Hank should be arrested for a $15B theft!!!

[getoffmedz]

The Greatest Heist in History continues unabated.

This exiting administration has allowed for far too much worth to fall into the hands of a few thousand cronies, family and who?

Paulson gets his money no matter what happens.

Blind trust.

heh

[cayuse]

Instinct tells me no country has ever recovered from this kind of debt creation. So the economy is dead and no one knows it yet.

As the reaction to this debt makes it impossible for Health Care, redistribution of wealth, etc.

The royalty simply stands up and for the self appointed carnataion and anounces: "Thank You folks for crowning us Kings and Queens" You can wipe my toilet seat for the privilege of sleeping in my barn. Hear is a handful of corn to raise for food

Mission Accomplished the new Feudalism is here to stay. The peasants have equal nothing

[FreedomCorpse]

the pilfering continues.

[Icantbelieveher]

Thank God for Uncle Fester!

[getoffmedz]

This man is robbing us blind. He is not funny.

[mrcontinental]

Credit and leverage is what got us into this mess. I hope every penny of the bailout money rots in their vaults. We should reject credit until they bring back usury laws to stop the plunder of the working class.

[ErnestineBass]

Hear! Hear! (p.s. Welcome back, stranger!)

[Rule Of Law]

I second that! We thought you'd gone "continental?"

[mrcontinental]

I still drop by from time to time. There's a bit to much "moderation" for my taste on Huffpo these days.

[HowietheScreamer]

Another 15 Billion, and STILL no accountability.

[getoffmedz]

yep

[cayuse]

I am not going to add this 15 billion into the 8.5 Trillion already spent by Bernanke and Polson. Can anyone explain to me what I cannot see?

8.5 Trillion / 5 million Corporations = 17,000,000 for each CEO, 8.5 Trillion / 56 Million families = 1,517,857 for each family

[Peter007]

You don't see the facts. Only 350 billion has been lent to various banks and financial institutions. It wasn't given. Most, is not all, will be returned to the treasury in a few years. Maybe with a profit.
The purpose of the Federal Reserve is to lend money to banks. They have been doing that for close to 100 years.
The trillions you mention is the possible liability the Gov't has should the entire system collapse and we all move to log cabins in the woods.

[cyoohoos]

Do you honestly believe that they are going to repay those "loans"?

[cayuse]

Peter, some will see, but not see. Did you say that? 8.5 Trillion you cannot C.

http://www.sfgate.com/cgi-bin/object/article?f=/c/a/2008/11/26/MNVN14C8QR.DTL&o=0

[pollwatcher123]

Mark Cuban is keeping track of WHO is getting the money. Check it out:

www.bailoutsleuth.com

[Sundialsvc4]

I'd like to see a full and complete accounting of who is getting the money, and why, and of precisely what they are doing with it.

My legal authority for this demand comes from "that blee-blee piece of paper," Article I, Section 9(g), to wit:

"No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time."

I require "a regular Statement and Account of the ... Expenditures of .. Public Money .. [to be] published ..."

[Peter007]

I agree with you. But. the key words here are. . "from time to time".
We will adjourn until after winter recess to take up this matter.
Adjourned.