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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on December 23, 2008, 07:37:35 PM

Title: Treasury: $4.7 billion to local banks
Post by: Bindare_Dundat on December 23, 2008, 07:37:35 PM

Another round of capital investments under the $700 billion bailout brings the total amount dispersed to $172 billion.

The Treasury Department, broadening the reach of its bank bailout, said Tuesday it had invested $4.7 billion in another 92 local banks.

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

Treasury lends funds to banks in exchange for preferred shares, warrants, and high-paying dividends. The aim: to encourage strapped-for-cash financial institutions to lend more money and provide much-needed liquidity in the financial markets.

As of Tuesday, the government has injected $172.4 billion into 208 banks.

Title: Re: Treasury: $4.7 billion to local banks
Post by: bigdumbbell on December 23, 2008, 08:51:20 PM

and it's all a big secret and the taxpayers paid for it.  who got ripped off?